Planetarium Labs Raises $32 Million in Series A Funding Round

UTC by Babafemi Adebajo · 2 min read
Planetarium Labs Raises $32 Million in Series A Funding Round
Photo: Unsplash

The firm’s gaming system is built on Libplanet, allowing developers to design blockchain applications fully on the Unity game platform.

Web3 gaming firm Planetarium Labs has raised $32 million in its Series A funding round. Animoca Brands led the round. There was also participation from Krust Universe, Samsung Next, Kakao, and WeMade.

According to the co-founder and CEO, Kijun Seo, the firm will use the fund to expand its network with gaming and governance tools. The firm also plans to increase its employee base from 25 to 40 soon.

Commenting on the fundraising, co-founder and executive chairman of Animoca Brands, Yat Sui, expressed his belief in a decentralized future. He said, “We are delighted to support Planetarium Labs’ vision of community-centric blockchain games that empower players with creative freedom and full digital rights.”

Planetarium Labs Aims to Build Community-focused Games

Established in 2018, Planetarium Labs produces a slew of tools that supports the building of decentralized games. It provides incubation, technology, and publishing support while focusing on building web3 gaming communities.

“We reimagine community-driven content and provide powerful tools for studios to deeply engage with their players and investors,” said Seo.

Planetarium Labs aims to build application-specific blockchain networks so that each game can run individually. The community will then be able to determine the direction of each game, including customizing its governance and tokens.

The Libplanet Ecosystem

The firm’s gaming system is built on Libplanet, allowing developers to design blockchain applications fully on the Unity game platform.

According to Seo, Planetarium is the major ecosystem builder for Libplanet. So far, the South Korean gaming studio has built its online role-playing game, Nine Chronicles, on the Libplanet platform. With more than 300,000 users, Nine Chronicles enjoys the backing of Binance Labs and Ubisoft.

Seo noted that the firm had plans to partner with different game studios in the APAC region to launch multiple community-driven games this year. While he refrained from naming the partner studios, Seo announced the firm is supporting the development of the RPG Stella Fantasy.

Asides from this, Planetarium Labs recently signed a partnership deal with XL games to create community-governed massively multiplayer online role-playing games (MMORPGs). He concluded by hinting that the firm will reveal more game titles later in the quarter.

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Babafemi Adebajo

An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.

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