In a significant boost for the GameFi sector, NPC Labs, a startup founded by former Coinbase employees, has successfully raised $21 million to advance game development on the Ethereum Layer-2 network, Base. Leading the funding round was Pantera Capital, with additional contributions from Makers Fund, Hashed, Mirana Ventures, and others.
What is NPC Labs Offering?
NPC Labs aims to support developers in launching their GameFi projects by providing more comprehensive backing compared to traditional publishers. According to CEO Daryl Xu, this initiative will empower developers and players by shifting control back from publishers, who often claim up to 70% of profits if a game underperforms. Xu emphasized the importance of simplifying on-chain benefits and enabling developers to create engaging games.
How Will NPC Labs Utilize These Funds?
NPC Labs plans to be a primary contributor to B3, a GameFi-specific blockchain network built atop Base. This network will handle transactions, transaction fees, and the bridging of in-game assets, allowing developers more freedom to focus on game distribution. Operations manager Viktoriya Hying and co-founder Sean Geng both highlighted the strategic choice of Base for its infrastructure and potential user reach.
What Does This Mean for Base?
Despite being a newer entrant in the Ethereum Layer-2 space, Base is strategically positioned to leverage Coinbase’s extensive user base, offering seamless wallet connectivity. Hying noted that the goal is to simplify the crypto experience by eliminating barriers to user engagement. B3 will also be compatible with Ethereum and other Ethereum Virtual Machine (EVM) networks.
Key Takeaways
- NPC Labs raised $21 million, primarily from Pantera Capital.
- Funds will accelerate GameFi development on the Base network.
- B3 will manage transactions and in-game assets on Base.
- Base aims to connect with Coinbase’s 100 million users.
- Compatibility with Ethereum and EVM-compatible networks ensures broader reach.
With this significant funding, NPC Labs is well-positioned to innovate within the GameFi sector, offering developers the tools and support they need to create compelling gaming experiences. This effort is expected to reshape the dynamics between game developers and publishers, placing more control into the hands of the creators.