Heroic Story raises $6 million for Web3 RPG
Rebeca Moen Nov 17, 2022 19:13
Web3 gaming protocol. Heroic Story raised $6 million in a seed round led by Upfront Ventures. The funds will be used to hire talent, market the live beta and develop on-chain technology for a massively multiplayer role-playing game (RPG) world.
Heroic Story, which is a Web3 game protocol, announced on November 17 that it has successfully completed a startup financing round in the amount of $6 million. The funding round was headed by Upfront Ventures, and it featured participation from both Multicoin Capital and Polygon Technology.
The cash will be used for a variety of things, including the hiring of experienced staff, the promotion and sale of the impending open beta for the game, and the development of on-chain technology for an MMORPG environment. Assuming that the current funding round is completed, Heroic Story will have accumulated a total of $7.4 million in funding.
In addition to being co-writers and investors on Marvel's Eternals, cousins Ryan and Kaz Firpo were also investors with Wolfgang Hammer, the head of film production at Miramax. Other investors included strategic angels such as the CEO of Team Liquid, Steve Arhancet, as well as the CEO of Quantstamp, Richard Ma.
"We fell in love with the concept for Heroic Story because they are providing authentic online RPG experiences for enormous audiences all over the globe that are excited about the tabletop RPG genre," said Mark Suster, managing partner at Upfront Ventures. We were instantly drawn in by Heroic Story's ambition to provide "authentic" online role-playing game experiences to enormous, passionate fanbases all over the globe in the tabletop role-playing game genre.
Early investors in the firm included the Transcend Fund, Kevin Lin, who was one of the co-founders of Twitch, Holly Liu, who was one of the co-founders of Kabam, and Furqan Rydhan, who was the CEO of Thirdweb.
The 2019 startup that was formed out of Y Combinator is a firm that specializes in developing and marketing multiplayer versions of popular tabletop role-playing games, sometimes known as TTRPGs. By combining traditional storytelling with the most cutting-edge gameplay elements, these games provide players a comprehensive and immersive experience.
Jay Rosenkrantz, the current CEO of Heroic Story, began his career as a top online poker player and entrepreneur. He went on to build and produce one of the very first adventure games for consumer virtual reality. Rosenkrantz has stated that "the convergence of narrative and technology has been the theme of my career." According to what he claimed, "platforms that are empowered with smart contracts will transform gameplay, storytelling, and community building."
Legends of Fortunata, the company's first game franchise, was released in 2021, and it features an immersive gameplay experience that "eliminates the pain points of playing traditional tabletop games online, with no stress scheduling and an exciting virtual rewards system designed to broaden the reach and appeal of TTRPG to new audiences." This statement was made in reference to the game's ability to "broaden the reach and appeal of TTRPG to new audiences." This program, for instance, "eliminates the pain points of playing traditional tabletop games online, with no stress scheduling and an interesting virtual rewards system aimed to widen your gaming horizons," according to the description of the site.
The market value of blockchain gaming reached over $25 billion within the first three months of the year 2022. The player's opinion of the game's entire experience is one of the primary obstacles that blockchain-based games need to conquer in order to be successful.
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