On June 8, HyperPlay, a native Web3 game launcher, announced that it had closed its Series A funding round after raising $12 million from investors, including co-leaders Griffin Gaming Partners and Bitkraft Ventures.
Other investors include ConsenSys, parent company of MetaMask, Ethereal Ventures, Delphi, Game7, Mirana Ventures and Monoceros Ventures.
HyperPlay, created in November 2022 by MetaMask and Game7 DAO, claims that its platform addresses the challenge of Web3 game interoperability “head-on,” providing interoperability for Web3 games and allowing developers to work without being tied down by centralized entities. like Apple, Google and Steam.
The platform says its goal is to enable interoperability across all Web3 games through a wallet overlay on top of games that allows players to bring their MetaMask wallet inside native or browser-based games. According to the company, HyperPlay’s game store currently offers more than 33 Web3 titles.
“Since we announced HyperPlay in November of last year, we have focused on creating a platform that allows developers and users alike to effortlessly navigate the world of Web3 games,” said JacobC.eth, founder of HyperPlay.
The platform markets itself as a service for both developers and users, stating that its “developer loyal” approach means that it “doesn’t tax in-game economies, but instead monetizes optional features like on-ramping or the exchange of tokens”.
For users, HyperPlay says it is compatible with all Ethereum virtual machine supported chains, allowing players to bring their wallets, tokens, and non-fungible tokens (NFTs) to all native or browser games. HyperPlay’s launcher integrates a wallet overlay into the game, so users don’t need to exit the game and use a separate website for NFT transactions, the company said.
Web3 games, or blockchain games, use distributed ledger technology to offer greater transparency, security, democratization and user control over game assets.
According to a report from DappRadar, Web3 games accounted for nearly half of all blockchain transactions in 2022. This positions gaming as the fastest growing sector in the blockchain space, well ahead of decentralized finance (DeFi) and NFTs.
That momentum has continued into 2023, with the sector experiencing steady growth in the first quarter of 2023, according to another DappRadar report. Blockchain games and metaverse projects received USD 739 million in financing in the period.
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