N3TWORK Studios, a spin-off of N3TWORK Inc, announced Wednesday that it has raised a $46 million Series A financing round led by Griffin Gaming Partners. As part of the investment, Griffin Gaming Partners’ Peter Levin will join N3TWORK Studios’ board of directors.
N3TWORK Studios, which was formed in January out of the games team at N3TWORK Inc., consists of 60 video game veterans. The company is known for its popular RPG puzzle game Legendary: Game of Heroes and is now focusing on both crypto native and hybrid free-to-play games. With its new funding, the gaming company plans to expand the crypto games audience by developing new Web3 games designed for mobile play.
“We’re a group of passionate veteran game makers who see a generational opportunity to leverage our expertise building and operating free-to-play games to create authentic Web3 experiences that can reach audiences of millions of players,” N3TWORK Studios President Matt Ricchetti said in a statement. “We believe in a future where game economies are more open and players own the assets they earn and purchase. Reaching that future will require both expanding the core crypto gaming audience and demonstrating to the massive mobile free-to-play audience that Web3 is a clear value-add to their gaming experience.”
Right now N3TWORK Studios is working on two new games: Legendary Heroes Unchained, a crypto-native title based on its previous Legendary title, and Triumph, a real-time multiplayer RPG that combines free-to-play and Web3 into a hybrid game to be more accessible to the mass mobile market.
“Web3 is a paradigm shift and will be a massive games market expander,” Levin said in a statement. “Mobile games and free-to-play reshaped the gaming landscape years ago, and the imaginative minds who led that shift are best positioned to apply the innovative thinking necessary to change the way we play again. N3TWORK Studios has the proven track record and knowledge base to fully realize this potential.”
