South Korea-based game developer and publisher Line Games announced today that its newly-formed investment company Nerdystar received a $5.8 million investment to bring traditional games into the Web3 ecosystem.
The funding round saw participation from BITKRAFT Ventures, FTX Ventures, GuildFi, Formless Capital, VistaLabs, Seum, and SBXG. Nerdystar will use Polygon to publish Web3 games. This is the second funding Line Games received, bringing the total funding to nearly $11 million. According to the official press release, the first game to launch on the Luxon web platform is set to release later in 2022.
Nerdystar’s main goal is to allow players to earn ownership of games they’re playing; while enhancing the rights of gamers as providers, players, as well as traders within the ecosystem. The company’s blockchain-based game platform, LUXON, aims to accelerate the Web3 transition by publishing high-quality blockchain games in a sustainable ecosystem.
A total of 100 developers and artists have joined Nerdystar, most of whom have transitioned from LINE Games’ Oozoo Studios to focus on Web3 games.
Nerdystar CEO, Alan Huh said the following about this new investment:
“With insights and experience gained from more than ten years of expertise in the game industry, engaging gameplay is not an afterthought at Nerdystar. We aim to appeal to a traditional gaming audience that wants more ownership without sacrificing game quality.”
Carlos Pereira, Principal at BITKRAFT Ventures commented:
“We believe the team’s successful track record of delivering exciting experiences in mid and core mobile will enable them to create compelling experiences for traditional gamers looking to experience crypto-based gameplay. Nerdystar is ahead of the curve and has already scaled at an accelerated pace with several employees, concepts, and IP direction in a region that is a fast-mover towards Web3.”
While being a new company in the Web3 space, Nerdystar is has members with over 10 years of experience in the game industry in key positions. The company develops and publishes Web3 games on Luxon and aims to redefine ownership of the game and the value of gamers per its Web3 vision.