Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
Limit Break is taking a big leap with its new “free to own” model considering how F2P has become a dominant business model in gaming.
Blockchain gaming firm, Limit Break, has completed two rounds of venture funding, raising $200 million in the process. According to a Twitter announcement by Limit Break, the funding rounds were led by Mino Games Chair Josh Buckley and venture capitalist (VC) firms Standard Crypto and Paradigm. The rounds also had other top investors in participation, including Coinbase, FTX, and Positive Sиии
Limit Break to Pioneer the ‘Free-to-Own’ Gaming Model
After successfully pioneering the free-to-play (F2P) mobile games during his stint at Machine Zone (MZ), Gabriel Leydon is teaming up with MZ cofounder Halbert Nakagawa to create a new blockchain-based gaming model known as “free to own,” at Limit Break.
In an interview with GamesBeat, Leydon said:
“Our focus is on what I believe is going to replace ‘free to play’ with something I call ‘free to own’ games.”
Limit Break is aiming to incorporate web3 elements into the “free-to-play” gaming model. But this will be a big leap, especially considering how F2P has become a dominant business model in gaming.
According to Leydon, the free-to-own (F2O) model comes with more benefits as opposed to what is obtainable with other models. He says Limit Break will give away non-fungible tokens (NFTs) to fans in what it calls the “free mint game.” However, this is in direct contrast to what most other blockchain gaming firms do. A large percentage of them only presell NFTs before their games launch.
Interestingly, this new model will go a long way in mitigating the lack of trust that has become commonplace in the gaming industry. The trust issues arise from companies having presold their NFTs, only for users to find a below-par gaming experience.
Growing Interest in Blockchain Gaming
It might be worth mentioning that interest in blockchain-based mobile games is on an uptrend. To put the above statement into perspective, Limit Break’s $200 million raise was successful despite an ongoing bear market.
Additionally, research by TheBlock in July saw NFTs/gaming racking up nearly $500 million in funding. With that huge amount, the space became the most favored deal type for investment for the twelfth month in a row.
Gabriel Leydon and Halbert Nakagawa are well known in the gaming industry during their time at MZ. Some of their popular games at MZ include Game of War, Mobile Strike and Final Fantasy: XV.