HyperPlay raises $12M in Series A funding round
On June 8, HyperPlay– a Web3-native game launcher– said it closed its Series A funding round after raising $12 million from investors, consisting of co-leaders Griffin Gaming Partners and Bitkraft Ventures. Other investors include MetaMasks parent company ConsenSys, Ethereal Ventures, Delphi, Game7, Mirana Ventures and Monoceros Ventures.HyperPlay, which was developed in November 2022 by MetaMask and Game7 DAO, states its platform tackles the Web3 gaming interoperability obstacle “head-on,” offering interoperability for Web3 video gaming, and enabling developers to work without being bound by central entities like Apple, Google and Steam. The platform says it intends to make it possible for interoperability throughout all Web3 games through a wallet overlay on top of games that enables players to carry their MetaMask wallet inside browser-based or native games. HyperPlays video game shop currently offers over 33 Web3 titles, the company said.”Since revealing HyperPlay in November of last year, weve been concentrated on constructing a platform that empowers both users and developers to easily navigate the Web3 gaming world,” stated JacobC.eth, founder of HyperPlay.The platform promotes itself as serving both designers and users alike, and says its “developer loyal” focus implies it “charges no taxes on in-game economies, rather generating income from optional features like on-ramping or token swaps.”For users, HyperPlay says it supports all Ethereum Virtual Machine-compatible chains, enabling players to bring their wallets, tokens and nonfungible tokens (NFTs) into every native or browser video game. HyperPlays launcher integrates an in-game wallet overlay, so users do not need to use and leave the video game a separate website for NFT deals, the business said.Web3 gaming, or blockchain gaming, uses distributed ledger innovation to offer higher openness, user, democratization and security control over in-game assets.Unique active blockchain wallets per activity. Source: DappRadarAccording to a report from DappRadar, Web3 gaming represented nearly half of all blockchain deals in 2022. This positions video gaming as the fastest-growing sector in the blockchain area, well ahead of decentralized financing (DeFi) and NFTs.That momentum has continued into 2023, with the sector experiencing constant growth in the very first quarter of 2023, according to another DappRadar report. Blockchain video games and metaverse projects received $739 countless financing in the period.