The blockchain and nonfungible token (NFT)-focused video game studio Vulcan Forged has secured $8 million in Series A funding led by SkyBridge Capital. The venture capital fund has the option to invest an additional $33 million.
The funding is aimed at accelerating the growth of Vulcan Forged “Metascapes,” a play-to-earn immersive metaverse game that allows users to build their land in the metaverse and store that data in nonfungible tokens. In addition, the funding will be used to grow Vulcan’s operations in North America and other markets. Currently, Vulcan Forged has about 15 games and decentralized applications (DApps), with about 200,000 users.
The gaming studio pushed out several Web3 games in the recent past, some of them being Berserk, Forge Arena and VulcanVerse. However, they’re currently heavily concentrated on MetaScapes, which allows users to design and build their own metaverse spaces and store the data in NFTs.
Jamie Thomson, founder and CEO of Vulcan Forged, says their product saw rapid organic growth over the last two years, and their headcount grew to over 130 people from just two workers. During this time, MetaScapes acquired over 200,000 users across 15 games. Thomson said:
“As we look to expand into new markets like North America and open our office in New York City, we believe that now is the perfect time to capitalize on our momentum with a strategic investment from Anthony Scaramucci and his team at SkyBridge Capital.”
Anthony Scaramucci, founder and managing partner at SkyBridge Capital, also commented:
“Jamie is a brilliant entrepreneur and has impressed me as he bootstrapped Vulcan Forged from a small startup to a top 10 metaverse project in the last two years, with a strong commitment to their growing community.”
“Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level.”
The studio’s main goal with this product is to compete with Mojang’s Minecraft in the long run.
To learn more about this project, please visit its website.
