Blockchain Gaming Studio Argus Completes $10 Million Seed Round
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This Tuesday, Argus, a web3 game studio, announced it had successfully completed a $10 million seed round. According to the post, the company’s goal is to help build video games across the chain, and it has created the World Engine, a purpose-built blockchain for developers.
Argus is building new blockchain to help developers take their games fully on-chain
On June 6, Argus, a blockchain gaming company, announced that it had completed a $10 million seed round. The round was led by Haun Ventures and has a number of well-known angel and strategic investors including Balaji Srinivasan, Anagram, Dispersion Capital and Alchemy.
According to Argus’ Twitter thread, the goal is to help make games on the chain. It cites the creation of Dark Forest, the very first MMORTS built entirely on the Ethereum blockchain, as its roots.
In the same announcement, Argus revealed its World Engine aimed at solving the problems stemming from the current blockchain architecture that make game creation a difficult task. The World Engine is described as “a sharded rollup SDK designed to run games, not just JPEGs” that enables developers to “distribute their game load across high-performance game shards”.
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Video game companies are still excited about Web3 Gaming
While the cryptocurrency industry has suffered significant damage through the “crypto winter” and in the wake of the ongoing regulatory onslaught, the notion of web3 gaming still has no shortage of supporters and enthusiasts.
Since the beginning of the year, several big names from the video game industry have moved towards investing in blockchain-based video games. In early June, for example, GameStop partnered with Telos to offer web3 games through its new launch Pleyr.
In addition, some well-known players in the industry have announced plans to embrace blockchain technology. In March, CCP Games, the developers of the popular EVE Online MMORPG, raised $40 million in an effort to create a new AAA-quality web3 video game.
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Do you think video games could benefit from being built entirely on-chain? Let us know in the comments below.
About the author
Tim Fries is the co-founder of The Tokenist. He has a B. Sc. in mechanical engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate in the investment team at RW Baird’s US Private Equity division and is also a co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
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