Metatheory

History

2022: Attracting $24 million investment

On May 16, 2022, the Web3 company Metatheory, founded by Twitch co-founder Kevin Lin, raised $24 million in Series A funding.

The round of series A was carried out under the direction of Andreessen Horowitz in which also took part fund with the Russian roots I2BF Global Ventures, Pantera Capital and FTX Ventures and also Breyer Capital, Merit Circle, Recharge Thematic Ventures, Dragonfly Capital Partners, Daedalus, Sfermion and Global Coin Research.

A fund with Russian roots I2BF Global Ventures invested in the developer of games with NFT in a $24 million round

Founded in 2021, Metatheory is a technology-oriented entertainment company that creates NFT games and virtual worlds based on innovative new story franchises. The company was founded by successful serial gaming and technology entrepreneurs, including Twitch co-founder, CEO Kevin Lin, joined by co-founders David Bartwell and J.T. Gleason. The founders include art director Darren Gears, operations director Adam Bao, vice president of game development Nick Foteringam, vice president of external creativity Nelson Wang and three-time Emmy Award winner Bernie Su, who serves as director of content.

According to the company, the staff of veteran developers will distinguish its products from other, less advanced games on the blockchain. The company already employs 42 employees.

Creating an exciting digital experience has always been my passion, and after leaving Twitch to find out what will happen next in the industry, I sincerely believe that blockchain will open the door to even more opportunities and will have a great impact on the gaming industry, storytelling and community building, "said Kevin Lin. At Metatheory, we created a team of industry veterans who are aimed at introducing blockchain in various categories of media with an emphasis on increasing standards of customer experience and shared ownership.

Metatheory is rethinking how games and stories are told from the bottom up using Web3 primitives, and we are very excited to collaborate with CEO Kevin Lin, a proven company leader and builder, said Johnathan Lye, Andreessen Horowitz.

We very much believe in Kevin Lin's vision of the future of games and the creation of the IP franchise, which will go beyond its gaming roots and extend to multi-platform universes, "said Paul Veradittakit, general partner of Pantera Capital. Kevin's successful track record, combined with the experienced and talented team behind Metatheory, have thrilled us with the partnership in this opportunity to move Web3-enabled games forward.

Metatheory's first game, the DuskBreakers franchise, which was released in December 2021 with world design from Geersart, the former leading designer-illustrator of Twitch, is a metaverse inspired by blockchain science fiction. DuskBreakers started with the help of Play-to-Mint, which led to the sale of 10 thousand. NFTS tokens (Genesis DuskBreakers) in just six days.^[1]

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