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Crypto Raiders raised $6 million in funding for its “play-to-own” role-playing game (RPG) with non-fungible tokens (NFTs).
The company is one of many blockchain game companies trying to combine high-quality gaming with non-fungible tokens (NFTs), which use blockchain to authenticate unique digital items.
The Los Angeles company is creating a dungeon crawling RPG with a retro art style. The game rewards players with random NFTs that they can keep, trade, or sell. This gives players a sense of true ownership for the items they earn in-game.
“We watch the NFT space early on and immediately fell in love with it,” Crypto Raiders CEO Nicholas Kneuper said in an interview with GamesBeat. “After seeing a lot of other projects come out with these really cool ideas, we thought there was a huge opportunity in the NFT gaming space to just make a really fun RPG game. Like a Runescape style or a World of Warcraft style game.
He added, “We just think the use case for NFTs is so strong with all the items you get in games and the assets you own when you play the game. And so we launched it in June from last year. And we’ve just been quietly in stealth mode, delivering new content, new updates, new dungeons, all kinds of new in-game features like player versus player (PvP).
About four months ago, interest in the game started growing as people noticed the amount of content the team was building, Kneuper said. The game now has thousands of players, with no real spend on user acquisition. This traction allowed the company to raise funds.
“It’s going to allow us to really grow the team and continue to build this awesome game,” he said.
DeFiance Capital and Delphi Digital led the round with participation from GuildFi, Merit Circle, Three Arrows Capital, Yield Guild Games and others.
Crypto Raiders is creating a more accessible NFT market through an ever-changing and interactive gaming landscape. Built on transparency, Crypto Raiders creates an engaged community of players unified through trust, collaboration, and ultimately blockchain. The team still considers their game to be in alpha testing, with only thousands of players.
NFT games have been a flashpoint for hardcore gamers in the West and some developers as well. They worry about scams, crap games, environmental damage from blockchain computing and pyramid schemes. But Kneuper said community members are already playing the game and enjoying it.
And his game attracts the youngest who obviously do not hesitate to experiment. The game’s Discord channel has over 20,000 members. The development team has 22 people.
“There are a lot of gamers who don’t want to jump into NFT games. And I think it’s for various reasons. I think some of them think games aren’t that interesting, right? Or maybe not so fun. I think a lot of people are also worried about how you have to spend $500 to be able to play the game. It’s kind of ridiculous,” Kneuper said. “Our number one goal is to make the game very accessible to all players.”
The classic retro style aims to appeal to gamers of all generations. The company hopes its network of dangerous dungeons and monsters will keep players coming back.
Enemies in games are called “mobs”. And if a mob kills a “crypto raider,” players can lose or gain loot, co-founder David Titarenco said in an interview. The mob that kills a raider gets a certain percentage of the loot.
The game features PvP tournaments that run daily. Players level up their characters and end up selling them for a profit, Kneuper said. If players grow tired of a character or weapon, they can sell it back to a merchant and recoup some of their investment.
Currently, the team is in the process of transferring the game from a web browser to Unity. And they will release a number of updates in the next three to four months. There will be more complex battles and player versus environment combat. After that, the company could do more marketing for the game.
Over time, the company hopes to target iOS and Android – once those platforms figure out what they’re doing with blockchain gaming. The company also hopes to be released on the Epic Games Store.
“Epic Games has been very welcoming to blockchain games,” he said.
Kneuper, Titarenco, and Matt Powell co-founded Crypto Raiders because they saw a gap in the global NFT market. The trio couldn’t find an NFT game they wanted to play, but understood the game’s ability to make it easier to enter the NFT market. So they decided to create their own game. The capital will allow Crypto Raiders to expand the development of the game’s art, music and narrative teams to create a better experience for players.
“Native, community-driven crypto games are rare. However, we believe the team behind Crypto Raiders pioneered a different approach to blockchain gaming – one with the hearts and minds of the community placed first,” said DeFiance Founding Partner Arthur Cheong. Capital, in a press release. “DeFiance Capital is thrilled to be able to support Crypto Raiders on its journey to becoming a full-fledged Polygon-based game.”
Merge worlds and find the right fans
Designed to merge the worlds of gaming and crypto, Crypto Raiders makes NFTs accessible to everyone. Its play-to-own model allows players to truly own their game.
“Delphi Ventures is pleased to announce an investment in Crypto Raiders. Crypto Raiders has taken an innovative route by creating a Web3 dungeon crawler and RPG experience that players truly enjoy while providing players with “play to own” opportunities. Along the way, they managed to build a loyal community,” said Ryan Foo of Delphi Ventures. “They have also successfully integrated various DeFi and NFT primitives, and continue to deliver at a blistering pace. We are thrilled to be able to support them on this journey and look forward to sending our Raiders into increasingly challenging tournaments, raids, and battles.
Players have the opportunity to buy characters and mobs, go on missions, form teams in a virtual universe while discovering the NFTs they then have. Crypto Raiders is built on the Polygon blockchain, and all NFT loot is random, ensuring that the value of all discovered loot is also random.
As noted by John Osvald of Gala Games, many blockchain games can become profitable on a smaller player base than free-to-play games due to the high interest in owning NFTs. Players pay for them and this helps to monetize a game faster, as 98% of players in free games pay nothing at all. And so free games need a base of millions and millions of players to become sustainable.
Games like Axie Infinity are the big hits in space, but even this game from Sky Mavis only has around 1.8 million daily players.
“The players we have right now are early adopters, and they’re really excited about what the game can become,” Kneuper said. “And we’re confident with this investment deal and the new features that will be added to the game shortly that we’re going to see really explosive growth. But you are right. It’s not a typical game in that there’s a lot of money going into user acquisition expenses.
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Crypto Raiders Raises $6 Million For NFT Roleplaying
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