NFT game studio Vulcan Forged raises $8 million in Series A funding
The financing round was led by the investment company Skybridge Capital.
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 has the option to invest an additional 33 million dollars.
The funding is aimed at accelerating the growth of Vulcan Forged “Metascapes”, an immersive metaverse game that allows users to build their country in the metaverse and store that data in non-fungible tokens. In addition, the funding will be used to expand Vulcan’s operations in North America and other markets. Currently, Vulcan Forged has around 15 games and decentralized applications (DApps), with around 200,000 users.
The game studio pushed out several Web3 games in the recent past, some of them being Berserk, Forge Arena and VulcanVerse. However, they are 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 has seen rapid organic growth over the past two years, growing their workforce 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 such as North America and open our New York City office, we believe 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 of SkyBridge Capital, also commented:
“Jamie is a brilliant entrepreneur and has impressed me as he took 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 industry, and we’re 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.
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