Cryptocomputer Cauldron raises $ 6.6 million to build “Pixar of web3”
A number of crypto game companies have increased production over the past year with hopes of revolutionizing the growing industry. In addition to the list is the London-based gaming company Cauldron, which plans to become “Pixar of web3” through a key element: storytelling.
The company has just completed a $ 6.6 million seed round and plans to launch its first web3 gaming world, Project Nightshade, this fall, Mark Warrick, the company’s founder and CEO, told TechCrunch exclusively.
“A big bit missing from web3 games is storytelling … people do not come back because there is no reason to come back,” Warrick said. “If you close your eyes and listen to a Pixar movie, you can not see the art or the technology, but the story still grips you. Storytelling is what matters. “
The game studio was a spinoff founded in August 2021 by Warrick and two other creative veterans, Fox Rogers and Matt Hyde. The company has since hired science fiction and fantasy-focused writers to help expand the storytelling focus.
“When you look at entertainment in web3, you have to look at what web3 is: it’s about ownership of assets,” Warrick said. “If you do not design around owning a part of a universe, existing entertainment cannot be translated into it.”
Cauldron plans to release three different game worlds to the public: Two worlds have a fantasy angle, while one world is focused on science fiction, Warrick noted.
“We focus on Pixar not because of aesthetics, but because they created a ‘Toy Story’ recipe, and 23 years later they never made a mistake,” Warrick said. to repeat it and create many worlds. In five years I would like to have three worlds out there loved by millions, and in 10 years I will have four. “
The round was led by Cherry Ventures with the participation of Cassius, Seedcamp and Playfair and ended just six months after its $ 1.4 million pre-seed round, Warrick said. He refused to share a valuation.
“Characters in regular entertainment are developed and observed by viewers, but imagine an empty world where we land the characters in there, and you get to define the origin stories, the villains, the heroes and create your own version of ‘Star Wars’, ‘Game of Thrones’ and “This is a new form of entertainment,” said Warrick.
The capital will be used to hire talent from the games and film industry as they build on their experience, Warrick said.
“Our focus is solely on doing our part [virtual] worlds more accessible to people out there, “Warrick said.” We could not think of a better way to do that than actually through the web3 site because people really feel the sense of wanting to own things on the internet and own a bit of a world , like owning a bit of ‘Lord of the’ Rings’ or owning a bit of ‘Star Wars’. We wish we had that chance, and now there is a chance for people to do it, but with a new IP. “
