Param Labs just snagged $7 million for their web3 game Kiraverse! Discover how top investors, innovative revenue, and Ethereum blockchain plans are set to revolutionize gaming!
Param Labs Snags $7 Million for Kiraverse!
Hey guys, guess what?! Param Labs just scored a whopping $7 million in funding for their awesome web3 game, Kiraverse. This is insane! Let’s dive right in and see what this means for the future of gaming.
Details About the $7 Million Funding Round!
So, Param Labs managed to raise $7 million in a super oversubscribed investment round. Leading the pack were big names like Animoca Brands, Delphi Ventures, and Mechanism Capital. And that’s not all! Even Yat Siu from Animoca Brands and Banks from Faze Clan joined the party with strategic investments.
Yat Siu had this to say: “We’re excited to partner with Param Labs to advance digital property rights in gaming. This collaboration aligns with our shared vision to redefine the gaming landscape.” Can you believe it? They’re pushing us closer to a truly open metaverse!
So you wonder, is the game any good? Well, judge yourself!
2.5 Million Followers and Counting! Param Labs is on Fire!
Param Labs isn’t just about raising funds; they’ve built a massive community! Over 2.5 million Twitter followers, 500,000 Discord users, and 300,000 daily active users on their platform. Imagine this – all these milestones achieved in just 24 months!
They’ve shipped three products into Beta: Kiraverse, the Param Labs Game Launcher, and Pixel to Poly. And the feedback? Extremely positive! Anthony Anderson, the genius behind Param Labs and Kiraverse, said, “We’re incredibly grateful for the recent funding. This marks a crucial step toward realizing our long-term vision.”
Kiraverse Revenue Hits $4 Million! Here’s How!
Guess what else? Param Labs raked in over $4 million in revenue in the past 18 months! This came from Kiraverse skin sales and their flagship service, Pixel to Poly. Pixel to Poly is a game-changer, converting 2D images into 3D game-ready avatars seamlessly.
Piers Kicks from Delphi Ventures commented, “Param Labs has the potential to be a true leader in developing innovative gaming experiences. Pixel to Poly is already gaining significant traction.”
Check out the site of the developer behind Kiraverse!
Epic Partnerships and IPs Boost Param Labs’ Ecosystem!
Param Labs is teaming up with some epic partners. They’ve incorporated 50+ IP partnerships within their ecosystem, including big names like Pudgy Penguins, Neo Tokyo, and even retail giants like GameStop. And in Kiraverse, they’ve included web3 personalities like Robbie Ferguson from ImmutableX.
But wait, there’s more! Param Labs is planning to launch their own ZK EVM-compatible layer 2 / layer 3 blockchain built on Ethereum. Karan Gandhi from Cypher Capital Group said, “Param Labs’ dedication to revolutionizing Web3 gaming resonates with our industry vision.”
Future Plans: New Blockchain and $PARAM Token Coming Soon!
And that’s not all! Param Labs is soon launching their native $PARAM token. This team has years of experience, generating over $40 million in EBITDA revenue while working with big brands like Activision, Epic Games, EA, and Ubisoft.
Meet the Strategic Advisors and eSports Partners!
To top it all off, Param Labs has some legendary advisors on board. Ex-Activision Blizzard president Steve Young has joined as a strategic advisor. Plus, major eSports organizations like LoudGG and Chronic are now part of their web2 distribution channels. They’ve also recruited top gamers from FaZe Clan, Optic Gaming, and more.
We’re just getting started! Stay tuned for more updates on Param Labs and their journey to revolutionize the gaming industry. Can you believe it? This is just the beginning!
More on the $7 Million Funding Round
There’s even more exciting news about the $7 million funding round for Param Labs! Let’s dive deeper into the details and see what else we missed.
Additional Top-Tier Investors
Aside from the big names like Animoca Brands and Delphi Ventures, many other top-tier investors jumped in on this funding round. These include Cypher Capital, P2 Ventures (formerly Polygon Ventures), Mechanism Capital, Merit Circle, TRGC Capital, Double Peak Group, and MH Ventures. Isn’t that amazing? The list of supporters just keeps growing, showing the immense faith in Param Labs’ vision.
Specific Revenue Streams
Now, let’s talk about how Param Labs is making bank! They generated over $4 million in revenue in the past 18 months. This impressive number comes from Kiraverse skins sales and their flagship service, Pixel to Poly. Pixel to Poly is super cool because it converts 2D images into 3D game-ready avatars seamlessly. Can you believe how innovative that is?
Future Plans: Ethereum-Based Blockchain
And that’s not all! Param Labs has big plans for the future. They are building their own ZK EVM-compatible layer 2 / layer 3 blockchain on Ethereum. This move is set to revolutionize their gaming ecosystem, making it even more robust and user-friendly. By leveraging Ethereum, they are ensuring their platform remains secure and scalable. Exciting times ahead!
Wrapping It Up
So there you have it! Param Labs is not just about the funding; they have a solid plan and an incredible team backing them up. With top-tier investors, innovative revenue streams, and ambitious future plans, they are all set to redefine the gaming industry. Stay tuned for more updates as they continue to make waves in the web3 gaming world!
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