Web3 Gaming Platform LootRush Raises $12m in Seed Round

Annie Li   May 06, 2022 06:35

Web3 gaming platform LootRush has raised $12 million in seed funding led by crypto company Paradigm, aiming to make playing Web3 video games more accessible and more convenient for users.

The company said the financing would expand the team globally and buy NFTs at scale.

In this round of funding, investors include Andreessen Horowitz (a16z), Y Combinator, and the creators of Axie Infinity, Plaid, Wildlife Studios, Dapper Labs, and The Chainsmokers and Vivi Nevo participated as angel investors.

LootRush says that:

“To play videogames using web 3 technologies, players experience a high barrier of entry. And, as interest in these types of video games continue to skyrocket, players are looking for ways to go from intent to enjoyment in as little time, with as little cost, as possible.”

“We enable players to play video games with NFTs at 100x lower price, providing more flexibility and a larger portfolio of NFTs to have fun,” said by LootRush.

The US-based LootRush was founded in 2015 to "make Web3 video games as easy to use as a mobile device or play video games on Steam." 

Image source: Shutterstock

Crypto Hedge Fund Pangea Fund Receives $85m in Financing

Read More