Core Loop raises $12 million to build blockchain-backed sandbox MMOG
New US game development studio Core Loop has raised $12 million to develop its new, blockchain-backed MMOG.
Established in 2020 by Dan Chao and Vincenzo Alagna, the duo bring a wealth of mobile gaming experience into the blockchain gaming world.
Leading this investment round was Andreessen Horowitz (a16z), with follow-up investment from Galaxy Digital, Initial Capital, Dune Ventures, and more.
Dan Chao, speaking to GamesBeat, laid out the team’s view of blockchain:
“Blockchain is becoming more and more popular, and once we sat down and started to do the design of how it actually fits into the game, we convinced ourselves this looks pretty exciting. We think it can work and it does feel like adds a lot to the game. It doesn’t take away from the game.”
As far as game types go, the MMO lends itself strongly to the decentralised, play-to-earn economy that blockchain makes possible. By using blockchain, the Core Loop team aims to bring greater autonomy and governance to players.
For players themselves, the blockchain element, according to the dev team, is more of a behind-the-curtain solution. Players can cultivate resources, buy equipment and go on raids without directly engaging with blockchain. Even so, all of their assets and resources will operate as NFTs.
The logic? Fun and immersion at the forefront, with blockchain, assiduously working in the background.
Find out more about Core Loop by visiting the website.
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