Legendary Video games raises $75M to hurry up NFT gaming

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Los Angeles-based NFT video games developer Legendary Video games introduced a $75 million Collection B financing with new and current traders. The corporate plans to make use of the fund to popularize possession in video games by way of playable nonfungible tokens (NFTs).

The funding spherical was led by WestCap Group. Different members embrace 01 Advisors, Gary Vaynerchuk’s VaynerFund, Galaxy Digital, Javelin Enterprise Companions, Alumni Ventures and Struck Capital. The sport developer studio raised a complete of $120 million to this point.

Legendary Video games is engaged on blockchain-based video games, particularly video games that use playable NFTs. The corporate is led by its CEO John Linden, who was the president of Seismic Video games till the studio was acquired by the gaming big Niantic.

“By way of its Legendary Financial Engine and Legendary Market, the workforce is offering a platform for recreation builders to create their very own player-owned economies,” the announcement reads.

Linden famous the meteoric rise of NFTs and blockchain in 2021, saying, “This new capital will enable us to proceed main the trade into a brand new play-to-earn mannequin the place varied stakeholders like gamers, artists, content material creators, and types at the moment are immediately influencing the sport economics.”

Associated: Ever wonder what is an NFT? Here’s a quick guide

The principle undertaking of the studio is Blankos Block Celebration, an open-world multiplayer recreation. The newest funding will allow the workforce to broaden into different gaming platforms and develop new tasks.

Blankos Block Celebration presents NFT characters that gamers can earn whereas taking part in. NFTs are verifiably distinctive representations of digital and bodily items that may be utilized to a number of use circumstances.

Sport developer studios just lately began to make use of them as online game characters. Every NFT typically differs in design and worth. Legendary’s newly launched market permits gamers to purchase or promote their characters. The sport remains to be within the beta part.