The Limit Break studio raised $200 million over two investment rounds. The team plans to incorporate Web3 elements into the model Free-to-Play (F2P) multiplayer online games for mobile devices.
🚨🚨🚨Limit Break is excited to announce that we have raised TWO HUNDRED MILLION DOLLARS ($200,000,000) over two rounds to build Web 3 MMO games. These rounds were led by @joshbuckley, @paradigm, & @standardcrypto 🥳
— Limit Break (@limitbreak) August 29, 2022
The rounds were led by Paradigm, Standard Crypto, and Mino Games CEO Josh Buckley. The funds were also provided by FTX, Coinbase, and Positive Sum.
With Web3, the startup plans to transform F2P into Free-to-Own. It envisions users being able to mint genesis NFTs for free.
“Genesis NFTs lead to other non-fungible tokens through airdrops and other methods. None of them is a clever tactic for raising funds,” — the statement said.
Limit Break was founded by former CEO and CTO of Machine Zone Gabriel Leydon and Halbert Nakagawa. The studio is known for bestsellers such as Game of War, Mobile Strike and Final Fantasy: XV.
As noted by DappRadar, GameFi and metaverses showed the strongest momentum in the second quarter in bear market conditions.
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