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Usha Yadav
Jul 7, 2022
by Usha Yadav

Planetarium Labs Raises $32M in Series A Funding

Planetarium Labs

Table of contents

  1. Libplanet - Open Source Blockchain Network
Web3 game technology company Planetarium Labs, based in Singapore, has raised $32 million in Series A funding, led by Animoca Brands. Other investors in the round included Samsung Next, WeMade, a South Korean video game developer, and Krust Universe, the investment arm of Korean digital giant Kakao. Co-founder and co-CEO Kijun Seo told that this is the equity round of Planetarium Labs' first fundraising effort. According to Seo, the company began gathering money earlier this year and finished the round last month.

According to Seo, Planetarium Labs, founded in 2018 and bootstrapped up to this point, offers "A-Z tools" for creating decentralized games. Web3 game studios can take advantage of services like incubation, technology assistance, and publication support with a community-centric primary focus.

"Instead of just adding elements of play-to-earn or non-fungible tokens (NFTs) into games, we reimagine community-driven content and provide powerful tools for studios to deeply engage with their players and investors," said Seo.

Libplanet - Open Source Blockchain Network

Nine Chronicles, developed by South Korean gaming studio Nine Corporation, uses a blockchain network powered by its users instead of a server to run its business. According to Seo, it operates specifically on Libplanet, an open-source blockchain network created by numerous participants. He continued by saying that one of the significant contributors to Libplanet and its primary ecosystem builder is Planetarium.

Planetarium intends to add new games to the Libplanet catalog. Seo claimed that Planetarium is collaborating with "big gaming developers from the APAC region" to release several community-driven games this year without mentioning which studios. Seo intends to grow the team size to 40 members from the existing 25 employees of Planetarium. He is seeking several positions, including web3 content production, game publishing, and core blockchain development.

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blockchain network Animoca Brands Planetarium Labs Libplanet Nine Chronicles Nine Corporation Kijun Seo
Planetarium Labs Raises $32M in Series A Funding
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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