Web3 game Worldwide Webb raises $10 million from Pantera Capital

Pantera Capital invested $10 million in the multiplayer online role-playing game Worldwide Webb during a Series A financing round.

1/ We are thrilled to announce that Worldwide Webb has raised $10 million in a round of financing led by @PanteraCapital. https://t.co/gJCTL0YXrG

— Worldwide Webb (@Worldwide_WEB3) February 23, 2023

Players can participate in quests and interact with the virtual economy of a browser-based MMORPG, buying ‘land’ and ‘real estate’.

In the coming weeks the project will release a new game — Blockbusterz, where NFT holders from popular collections such as CryptoPunks, BAYC and Doodles can battle each other.

The funds will be used to expand the team and add support for new networks in addition to Ethereum.

The diagram below shows the NFT/Gaming category’s share declining from 40% to 26% of total deals from December to January.

The Block Research’s John Dantoni believes it’s too early to talk about a decline in market interest in the subsegment. In his words, this looks more like a lull before forthcoming growth in venture investor activity.

The Indian gaming startup Kratos Studios attracted $20 million in funding at a $150 million valuation.

The Web3 platform Oh Baby Games closed a seed round of $6 million.