Web3 Gaming Company Planetarium Labs Raised $32M in Funding from Animoca Brands

Startup based in South Korea Planetarium laboratories a community-based web3 startup raised $32 million in Series A funding led by Animoca Brands. Other investors in this round include Samsung Next, Krust Universe, publisher of play-to-earn game Mir4 We made, and investment arm Kakao ventures.

“The company plans to expand its network with gaming and player governance tools.” Co-founder and CEO Kijun Seo told Coindesk in a post.

Planetarium Labs Started is a community driven open source web3 company focused on creating a gaming environment that enables open source content creation and community and user participation in the gaming network.

It is a game system based on LIbplanet, a software development kit that helps developers build a blockchain application on a Unity game development platform. The company works with game developers in Asia-Pacific to deliver community-focused projects.

To encourage growth, the company plans to focus on improving the Libplanet environment for decentralized games and launching an ecosystem fund and community assistance programs.

Hong Kong-based gambling investment company Animoca brands recently announced that its investment portfolio at the end of April was valued at over $1.5 billion across 340 investments.

“We strongly believe that the future is a massively decentralized world in an open metaverse, which is why we are excited to support the vision of community-centric blockchain gaming planetarium labs that give players creative freedom and full digital rights” said the co-founder and executive chairman of Animoca Brands in the press release.

Kijun Seo, co-founder and CEO shared

“Instead of a network sharing multiple games, each game runs its application on the specific blockchain network and it has the freedom to design its governance and customize tokenomics, such as win-to-play,” said CEO Seo.

Libplanet technology has been used in the open-source online role-playing game Nine Chronicles, which has over 300,000 users and is supported by Animoca, Binance Labs, and Ubisoft brands. Nine Chronicles will kick off the “Chapter 3” update with a list of new features, including staking programs and player championships.

Planetarium Labs is supporting the development of the live-action NFT (non-fungible token) collectible fantasy RPG Stella, which had major gameplay with XL games founded by jake song, the creator of the famous lineage franchise and co-founder of Nexon at explore Community-driven MMORPGs, referring to massively multiplayer online games.

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Arline J. Mercier