HyperPlay secures $12M in Series A funding.

On June 8th, HyperPlay, a game launcher that is Web3-native, announced the completion of its Series A funding round, in which it raised $12 million from investors. The leading investors were Griffin Gaming Partners and Bitkraft Ventures.

Other investors in the company include Ethereal Ventures, ConsenSys (parent company of MetaMask), Delphi, Game7, Mirana Ventures, and Monoceros Ventures.

HyperPlay, which was founded in November 2022 by MetaMask and Game7 DAO, claims to tackle the challenge of Web3 gaming interoperability by providing interoperability for Web3 gaming, enabling developers to work without being restricted by centralized entities like Apple, Google, and Steam.

The platform aims to allow interoperability across all Web3 games, through a wallet overlay that enables gamers to carry their MetaMask wallet within native or browser-based games. Currently, HyperPlay’s game store provides over 33 Web3 titles, according to the company.

• Crypto community adopts ‘Stand With Crypto’ NFT after SEC sues Binance and blockchain.
• Nike NFTs in EA Sports games Nifty Newsletter, May 31-June 6.
• NFT lending is raising concerns of ‘predatory’ platform behavior.

“Since announcing HyperPlay in November of last year, we’ve been focused on building a platform that empowers both developers and users to effortlessly navigate the Web3 gaming realm,” said JacobC.eth, founder of HyperPlay.

The platform is focused on serving developers and users alike, and claims to be “developer loyal” by charging no taxes on in-game economies and monetizing optional features like on-ramping or token swaps instead.

For users, HyperPlay supports all Ethereum Virtual Machine-compatible chains, enabling players to bring their wallets, tokens, and nonfungible tokens (NFTs) into every native or browser game. The company’s launcher integrates an in-game wallet overlay, eliminating the need for users to leave the game and use a separate website for NFT transactions.

Web3 gaming, or blockchain gaming, utilizes distributed ledger technology to provide greater transparency, security, democratization, and user control over in-game assets.

According to a report from DappRadar, Web3 gaming accounted for almost 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 consistent growth in the first quarter of 2023, according to another DappRadar report. Blockchain games and metaverse projects received $739 million of funding in the period.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!