Andreessen Horowitz leads $40 million funding round for blockchain-based multiplayer game
Tech-focused venture capital firm Andreessen Horowitz is leading seed-to-back development of a new interactive game using blockchain technology from CCP Games.
Iceland-based CCP, the creator of Eve Online, the popular sci-fi massively multiplayer online (MMO) role-playing game, said it will receive $40 million to develop the new title.
Joining Andreessen Horowitz in the funding round are Makers Fund, BITKRAFT, Kingsway Capital, HASHED, Nexon and others, CCP said in a statement.
The new game will be set in the Eve Universe, the company said. The unscripted role-playing game Eve Online launched in 2003 and has approximately 9.59 million players per MMO Populations, which tracks the genre.
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“Since its inception, CCP Games’ vision has been to create virtual worlds that are more meaningful than real life,” said CEO Hilmar Veigar Pétursson. “Now, with advances made in blockchain, we can forge a new universe deeply imbued with our expertise in player agency and autonomy, empowering players to engage in new ways.”
The project will leverage smart-contract blockchain technology, allowing “truly open third-party development to create a new relationship between virtual worlds and players,” the company said.
“The depth and nuance of Eve has become a frequent reference point in blockchain gaming, and we are therefore thrilled to support the team’s impressive vision to expand the Eve Universe using this technology,” said Makers Fund Principal Alli Óttarsson.
CCP Game Director Sæmundur Hermannsson leads the development team.
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Andreessen Horowitz, who refers to himself as “a16z,” said in a statement that they spent a lot of time with Pétursson over the past year “and came away impressed with his thoughtful approach to web3, his experience running CCP through multiple business cycles, and his pragmatism as a veteran entrepreneur and studio executive.”
“Hilmar has been at the forefront of blockchain play since 2017 – long before crypto was mainstream,” the statement said.
General Partner Jonanthan Lai said: “They are a veteran team and we believe in their ambitious vision to deliver incredible player experiences at the intersection of best-in-class game design and blockchain technology.”
Founded in 2009, a16z has backed hundreds of companies across a variety of sectors, including Airbnb, Facebook, Slack, Pinterest and crypto platform Coinbase. Its active portfolio includes development platform Alchemy, media outlet BuzzFeed, online hangout Clubhouse and dozens more companies.
“The team has already made great progress in product development and we have been very impressed with the playtests so far,” Andreessen Horowitz said in a statement.
“Together, we share the belief that player ownership and governance within an open platform can be a key source of fun that serves to reinforce great gameplay and captivating game design.”
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