AO Labs has raised $4.5 million through a token sale for Spacebar, a playground designed specifically for Web3 communities. Round led by Yield Guild Games, and More than 70 investors participated.
Besides famous names, participants from influential companies such as Polygon, Sky Mavis, and Com2uS participated in the investment round. Spacebar’s website does not contain any information or updates for now. The company’s Twitter page said the platform would meet with users “very soon.”
Founded by two partners, AO has a very experienced founder team. One of the founding partners, Christy Hyungwon Choi, was the founding director of Binance Labs for almost 2.5 years. During this assignment, Choi, who manages investments in many famous blockchain and cryptocurrency startups, will use this experience on AO. In addition, Choi is still a consultant to Yield Guild Games today.
Christy Hyungwon Choi, the co-founder, used the following words in an interview with GamesBeat:
“I think gaming will probably be the piece that actually engages all these different building blocks across crypto. That is why I am extremely bullish about building this game because it could be the gateway to drive mass adoption. It’s not just because the game is fun. It is because while playing the game, you will interact with all the different tools being built in this space. We will act as a point of interaction for all these people in crypto.”
Another co-founder, Joony Koo, has been involved in marketing for many years. Koo took over the senior management for Com2uS for about five years. He is using this experience on AO for almost one year.
According to the information shared on the company’s LinkedIn page, AO will build a playground for Web3 communities through Spacebar. The AO team will build a bridge between DeFi, NFT, DAOs, and Guilds, which will be entirely community driven. Players will be able to own some of the value they create.