Place/Date: Singapore - May 4th, 2022 at 2:21 pm UTC · 3 min read
Contact: Ho Say Peng, Source: LongHash Ventures
LongHash Ventures, one of Asia’s leading Web 3-focused venture funds and accelerator, has announced that it led a $1.5 million pre-seed funding round for Particle Network, a Web3 mobile game development platform that aims to accelerate game developers’ transition to Web3 by providing developers with the toolkit to build, host, and scale gaming dApps with ease.
Emma Cui, Founding Partner of LongHash Ventures, said:
“We’re excited to back Pengyu Wang and the team at Particle Network. This investment underlines our bullish thesis on Web3 gaming and, more specifically, Web3 mobile gaming. Particle Network removes one of the biggest obstacles to the development of the Web3 gaming ecosystem: the lack of Web3 mobile tech stack and social graphs that developers need to efficiently build and launch immersive gaming dApps. By providing a fully managed backend infrastructure, Particle Network enables developers to accelerate their Web3 game development.”
The funding round also includes participation from Insignia Ventures Partners, CyberConnect, BitCoke Ventures, 7 O’Clock Capital, FSC Ventures and Monad Labs. Particle Network will utilize the funds to grow its team, nurture its global developer community, and polish the launchpad to give developers the fastest path from idea to mass scaling Web3 games.
Particle Network Co-founder and CEO Pengyu Wang said:
“We’re grateful to be backed by an incredible group of investors in this round of financing led by LongHash Ventures. When we first ventured into the Web3 world as devs, we realized we had to build the very basics of a mobile app from the ground-up. That, however, creates unnecessarily high barriers to Web3 mobile app building, and each dev reinventing the wheel to create an app does not contribute to Web3 in the long term. Now with Particle Network, developers can focus on creating amazing gaming experiences without worrying about building everything from scratch.”
Particle Network offers multi-chain support, enabling developers to build on Solana, BNB Chain, Polygon, Immutable X, Avalanche, Flow, Evmos, and Wax. Developers have already built numerous Web3 games using the Particle Network platform, including Merge Go, Designer 777, Idle Weed Inc and Panda^2.
Particle Network is a Web3 mobile application data and development platform, allowing developers around the world to build scalable, multi-chain, and reliable Web3 mobile apps without in-depth knowledge of blockchain technology. It also helps developers clean and structuralize on-chain data, then connect the processed data with first-party client data, enabling developers to build user DIDs and conduct targeted product iterations and operations.
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LongHash Ventures is a Web3 investment fund and accelerator, collaborating closely with founders to build their Web3 model and tap into the vast potential of Asia. We launched our fund in January 2021 and invested in projects including Balancer, Acala, Instadapp, and Zapper.
With the LongHashX Accelerator, we have partnered with Polkadot, Algorand, and Filecoin to build more than 50 global Web3 projects which have raised more than $100m in the past four years. Through such investments and active collaboration, we are committed to realizing our mission of catalyzing growth for the next generation of the Web.