Playable Worlds Raises $10M for the Creation of its Cloud-Native Sandbox MMO
Led by Galaxy Interactive, the Funding Will Also be Used for Additional Hires
SAN MARCOS, CA - June 11, 2020 - Playable Worlds announced today that it has secured $10M in Series A funding, led by interactive content and technology investor Galaxy Interactive via its Galaxy EOS VC Fund, a partnership with EOSIO blockchain software publisher, Block.one. Additional funding was also provided from BITKRAFT Esports Ventures. Playable Worlds is developing a sandbox MMO built from the ground up for the cloud, ultimately opening a pathway to brand new kinds of gameplay and game experiences in worlds that feel more real and immersive than previously imagined.
Led by a prolific team of industry veterans including CEO Raph Koster, designer of “Ultima Online” and “Star Wars Galaxies,” the funding will be used to develop the technology associated with a cloud-based game and to continue building out the team.
“Now that we have our foundational technology, we're moving into production on our innovative lead title and original IP,” said Koster. “The support from Galaxy Interactive and BITKRAFT enables us to hire staff and push the boundaries of what an online world can be, reinforced by best practices for persistence, engagement, and retention to build a game that lasts.” Playable Worlds is developing cloud technology that delivers richer simulations, more regular content releases, and stronger communities. These developments confer notable advantages in operating games-as-a-service, boost engagement and retention, and deliver compelling player experiences.
“Raph’s vision and demonstrated ability to give players a compelling sandbox for the expression of their digital identities makes him exactly the sort of founder that we look to back,” said Galaxy Interactive Managing Partner, Sam Englebardt. “Through our partnership with Block.one via the Galaxy EOS VC Fund, we've been focused on enabling the next wave of interactive entertainment by making investments in cloud-native content and infrastructure such as blockchain that we believe will ultimately lay the foundation for the metaverse. There are few that know the MMO space like Raph and we’re thrilled to be backing him and his exceptional team.”
About Playable Worlds
Playable Worlds, Inc. is an online game company focused on immersive worlds, based in San Marcos, CA. Founded in 2018 by online gaming veterans Raph Koster and Eric Goldberg, Playable Worlds creates next-generation online worlds by combining the latest technology with expertise in service operations, community building, and online game design.
About Galaxy Interactive
Galaxy Interactive is a division of Galaxy Digital, a diversified merchant bank specializing in digital assets and blockchain technology. Led by Sam Englebardt (one of Galaxy Digital’s partners and co-founders), Galaxy Interactive manages and invests from the $325mm Galaxy EOS VC Fund (a partnership with EOSIO blockchain software publisher Block.one) with a particular focus on video games, esports, digital objects, virtual and augmented reality (VR/AR) and lifestyle applications that are leveraging the EOSIO blockchain and other technologies to power their businesses. Other recent investments include Mythical Games, Genvid, N3twork, High Fidelity, Immutable, Dazzle Rocks, Tempo Storm, Current, Good Money and many others.
About EOS VC
Block.one's EOS VC program offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO. It provides support through venture capital partnership funds that aim to achieve sustained utilization of the EOSIO ecosystem by investing in a concentrated and diversified portfolio of blockchain-focused companies building on the EOSIO software. For further information, please visit Block.one and vc.eos.io.
B/HI, on behalf of Galaxy Interactive