Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Blockchain Gaming Developer Fracture Labs Raises $3.5 Million Funding Round

Published 11/16/2021, 11:26 AM
Updated 11/16/2021, 11:30 AM
Blockchain Gaming Developer Fracture Labs Raises $3.5 Million Funding Round

Blockchain video game developer Fracture Labs has added to its funding total, raising a fresh $3.5 million round from over a dozen backers, including Alameda Research, Huobi Ventures, Spartan Group, Mechanism, Forward Analytic, and public listed company Cryptology AG. Other participating funds are Metavest Capital, Israel Blockchain Association, Cointelligence Fund, Gravity Finance, and more to be announced.

The funds will be used to ramp up game development, as well as build out Fracture Labs’ NFT marketplace ahead of the 2022 release of Decimated, the company’s tentpole blockchain-based multiplayer survival game.

Decimated is a revolutionary third-person survival role-playing game built on the Unreal Engine, from which Fracture Labs was awarded an Epic MegaGrant. Players guide either a human citizen or cyborg cop through a dystopian post-apocalyptic landscape set hundreds of years in the future, in which the world has been ravaged by climate change and political turmoil, and where AI corporations have seized all government control. Decimated’s in-game currency, DIO, is seen as society’s last hope.

Players can strike out in Decimated’s open-world on their own, or team up with other players to scavenge loot, transport cargo or VIPs, collect legal or illegal resources to trade, hunt legendary creatures, capture territory, and build safehouses for their gang. The world of Decimated includes a vast assortment of futuristic vehicles players can use to traverse the game’s treacherous realms and superhighways. Since in-game items, vehicles, and structures are minted on the blockchain, they persist within the game’s reality unless they’re scrapped or destroyed.

DIO underpins the digital economy in Decimated. Players complete missions to earn DIO, which can then be used to buy, sell, trade, or barter in-game items. It has a fixed supply of one billion tokens, which cannot be created or destroyed. Spent DIO circulates back into the game’s economy, with every transaction recorded on the blockchain. Like other game-based tokens, DIO’s price fluctuates in accordance with real-world supply and demand on crypto exchanges, which adds an entirely new dynamic to the in-game economy.

In development since 2018, anticipation has been steadily growing for Decimated, which has already garnered significant attention and acclaim after taking home the award for Best Blockchain Game at the 2019 Crypto Games Conference. After initially bootstrapping and self-funding through a challenging bear market, Fracture Labs launched a private token sale with a $4 million target in October 2021, receiving more than $30 million in offers.

Fracture Labs’ team is made up of Unreal Engine developers who have worked on some of the most successful games and franchises in recent memory for PC, console and mobile. The team also work with production partners in the videogame industry with AAA game development experience, ensuring the highest possible quality visuals and gameplay.

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.