Planetarium Labs raises $32M in Series A funding

Planetarium Labs has raised $32 million off a Series A funding round, led by Animoca Brands. Krust Universe, WeMade, and Samsung Next also joined the funding in the hopes of laying the groundwork for a generation of community powered and governed Web3 games.

Planetarium Labs is aiming to become a pioneer of open-source, decentralized blockchain games. The company is building a gaming ecosystem based on Libplanet blockchain technology. Its goal with the choice is to allow players to participate in the game network and offer the chance to play a major role in the open-source content development.

Libplanet is already the home of Nine Chronicles, an open-source online RPG which runs entirely on the blockchain. Animoca Brands is also one of the supporters of Nine Chronicles in addition to leading Planetarium Labs’ funding round. Animoca Brands is dipping toes in a lot of ponds, these days. The Hong Kong based software company is kind of everywhere, these days. Beyond Nine Chronicles, it’s got loads of big brands in its portfolio, including Disney, the WWE, and The Walking Dead.

“We strongly believe that the future is massive decentralized worlds in an open metaverse,” Animoca Brands’ Yat Siu said in a statement to GamesBeat. “Which is why we are delighted to support Planetarium Labs’ vision of community-centric blockchain games that empower players with creative freedom and full digital rights.”

Multiple game studios from the Asia-Pacific region are teaming up with Planetarium Labs to follow the success of Nine Chronicles. They’re preparing to launch multiple community-driven game initiatives this year. 

It’s a collaborative effort

The multi-studio team-up is part of a larger, extensive partnership for Planetarium Labs throughout Asia. Other members of the new network include Krust Universe, the investment arm of South Korea’s Kakao and game publisher WeMade.

Beyond the successful closing of the funding round the first steps for Planetarium Labs is working on tools. The company is going to allocate the funds to build out fundamental tools for community-driven gaming and player governance. The tools will also enable key studios to be able to deliver increasingly sophisticated Web3 experiences.

The company is planning to focus on continuously improving the Libplanet ecosystem for decentralized gaming. Planetarium Labs is also going to introduce several initiatives, like ecosystem fund and community support programs.