Irreverent Labs is a Seattle-based company led by longtime gaming entrepreneur Rahul Sood. Sood previously served at Microsoft Ventures. He is now the CEO of Irreverent Labs and is working on a blockchain, NFT, and artificial intelligence-themed game.
The names of Irreverent Labs and Rahul Sood managed to attract the attention of the American Silicon Valley company Andreessen Horowitz (a16z). The company, whose name we often hear in the news of blockchain and NFT investment, has previously financed nearly 50 crypto money projects.
Other backers of the investment round include the likes of Chainsmokers Mantis VC, Unlock Venture Partners, Keen Crypto, and AdvancIt Capital. While investments in NFT and blockchain technology have grown like an avalanche recently, it seems that Irreverent Labs will take its place in this industry.
According to Sood’s information, it only took eight days to collect the money. Stating that he is very excited about his new company and vision, Sood made the following statement:
“This is like the highlight of my career. It’s everything I love all wrapped up into a little project which I think is going to be a real success.”
It is expected that Irreverent Labs will announce the game that it will develop with the play-to-earn model in a few months. The game seems to be set on a metaverse with enriched items. The industry had begun to reshape last month after Microsoft and Meta (Facebook) unveiled their own visions for the metaverse.
Sood says that in the metaverse they will establish, players will have their currencies. This is where NFTs come into play. In the project, which will also be supported by artificial intelligence, users will be offered ways to earn money as they play.
The game’s core idea comes from games like Zed Run, which got attention earlier this year. At Zed, people owned and raced virtual horses with the concept of “breathing NFTs” that could breed and have a life of their own. Rahul Sood was also one of the first investors in the company that developed Zed Run. Similar to Zed Run, Irreverent’s game will also feature breeding mechanics.
Arianna Simpson, general partner of Andreessen Horowitz, said:
“Irreverent Labs’ first game is so delightfully eccentric and simple to play, and it’s easy to overlook the technical achievement of shaping truly original NFT characters with advanced machine learning.”
“The investors invested very quickly because they saw the math behind it and the potential of what we’re building, and they believe in it.”
Rahul Sood is a recognized name in the industry. The fact that he has been in many successful projects in the past may signify that he will do a successful job in the new NFT game. For those interested in the subject, it is exciting that experienced names and companies turn to NFT. Successful and big names like Zynga have also taken steps towards NFT recently.