Pantera Capital Invests $10M In Worldwide Webb In Series A Funding Round
Pantera Capital has invested $10 million in Worldwide Webb, a pixel art-based metaverse game in a Series A funding round.
It has been reported that the crypto-focused investment firm is bullish on the potential of gaming in web3. This new influx of funds will be utilized to achieve several objectives, including expanding the team, integrating additional non-fungible token (NFT) collections into the game, and creating partnerships with various brands and intellectual-property holders.
However, Worldwide Webb is a unique pixelated gaming metaverse that allows players to use their existing NFT collections as in-game avatars. Worldwide Webb aims to onboard more brands into the game. This is why a significant portion of the funds is allocated to that effort. The funding is also used to integrate more chains beyond Ethereum and expand the team.
The report said that one crucial aspect of the company’s plans is the creation of its own standard for ERC-1155 and 721 token standards. Worldwide Webb hopes that this new standard will help address the issue of royalty splits from NFT secondary sales and more.
Likewise, Worldwide Webb also launches a new browser-based game called Blockbusterz soon. On it, players use their own NFTs as avatars to engage in battles, quests, and raids. Winning battles grant players access to higher levels of NFT mints. The company is also working to bring more brands into the game.
Sehaj Singh, the Investment Associate of Pantera, said:
“Worldwide Webb bridges the gap between traditional gaming and NFT communities via an ever-expanding catalog of browser-based mini-games, where every player can leverage a unique identity (in the form of an NFT). Not only has Webb’s rapid-iteration on game development led to fun and engaging mini-games, but the Worldwide Webb platform has provided yet another channel for NFT communities to enhance engagement and community building.”
The gaming industry is expanding rapidly in the coming years. Worldwide Webb is also in a perfect position to benefit from this growth. The game, set at the intersection between web3, gaming, and the metaverse, has already garnered significant attention from the web3 community. The new funding enables the company to increase its presence in the gaming space.
Thus, with more NFT collections on the game, it also offers a wider range of assets to players. This allows communities to connect with each other seamlessly and experience multiple worlds. This makes the game more appealing to audiences worldwide.
Source: NFT Evening