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Village Studios has raised 2.3 million to create a cross-game planken avatar based on non-fungible tokens (NFTs).
The Web 3 platform was founded by game industry veterans Will Luton (SEGA, Rovio), Cyril Barrow (Rovio, EA) and Tak Fung (Microsoft, Zynga).
Animoca Brands, which has over 200 blockchain game investments, led the round with the participation of angel investors including Venrex, AngelHub, K3 and WinZO, as well as Jus Purewal (Chairman, Face Punch) and Phil Mansell (CEO, Jagex).
Village Studios seeks to address the problem of interoperability in Web 3 games, starting with the Playcan Avatar platform and portfolio of games. Plaquens is a game portable avatar equipped with NFT variables that can be purchased and traded. Each wearable will have unique features that can be used in multiple games, the company said.
“It’s great to have the Animoka brands on board with us for this tour,” Luten, co-founder and head of product, said in a statement. They got what we wanted to achieve right away and the problems we are here to solve.
The funding round will allow Village Studios to lease the key and start building the platform and its games.
“Our vision is to value game items interoperability for players and developers,” said Cyril Barrow, co-founder of Head of Operations. Animoka brands being by our side and supporting us is a great opportunity for Village Studios.
Interoperability is something that decentralized technology can bring to game items such as character incarnations, but it requires a lot of understanding between game companies on how to achieve it technically. Many developers believe it won’t bring much usefulness to games, but Web3 advocates say it will enable true ownership for gamers and user-generated content. It can be valuable in a world where gamers switch games or if a game company shuts down the game they have nothing left.
Yat Siu, executive chairman and co-founder of Animoka Brands, said in a statement: “Village Studios, a team with strong experience and a clear vision for the future, is creating novel experiences in gaming with an emphasis on interoperability. We are part of this project. Thrilled to be and looking forward to its success.
Village Studios has not said which games it will make interactive with its avatar, but it does have a white paper here. The company plans to precel its own NFTs, but noted that it will focus on sustainability. That means no-proof-of-work blockchain (like Ethereum, which consumes a lot of energy), no pump and dump “Ponzinomics” and repetitive and inexpensive ways for players to spend.
The team has four people and the company was launched in November.
In an email to GamesBeat, Luten said, “We’re really excited about the possibility of interoperability as a basic building block for a more open future for games, which some call metavores. The founders started talking about how one should create an avatar system that moves the game into a game supported by portable statistics. Gradually, we realized we had to be that person. “
Some gamers and game developers have reacted negatively to NFTs. I asked Luton about it and he said, “I was a beginner in F2P (free-to-play) and so he’s very familiar. I think there is always a great resistance to change in sports. In this example, there are some really valid concerns about rug bridge and ponzinomics, plus it is a complex space so its potential is hard to see. Many Web3 game makers, including ourselves, are now in focus mode. The debate is over and we need to go and prove it. “
That’s why the company is so focused on sustainability, he said.
“It covers the environment, such as supporting an alternative proof chain, as well as our players. We aim for our tokens to gradually increase in value over time, with players spending year-over-year in the game instead of being pumped and dumped. Sales are fun, players are not profitable, “Luten said.
Speaking of the business model, the company is selling wearables for the Placan avatar.
“It simply came to our notice then. The proceeds will fund a treasury that will distribute to ourselves and the developers implementing the Placan avatar in their game, ”he said.
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