Planetarium Labs Raises $32M in Series A Funding

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

Planetarium Labs aims to be a pioneer in decentralized and open-source blockchain games. The company is building a gaming ecosystem based on Libplanet's blockchain technology. His goal with the choice is to allow players to participate in the gaming network and provide the opportunity to play a major role in the development of open source content.

Libplanet already hosts Nine Chronicles, an open-source online RPG that runs entirely on the blockchain. Animoca Brands is also one of the supporters of Nine Chronicles in addition to leading the funding round for Planetarium Labs. Animoca Brands dips its toes in a lot of ponds these days. The Hong Kong-based software company is all over the place these days. Beyond Nine Chronicles, its portfolio includes many major brands, including Disney, WWE and The Walking Dead.

"We strongly believe that the future is made up of massively decentralized worlds in an open metaverse," Yat Siu of Animoca Brands said in a statement to GamesBeat. "That's why we're thrilled to support Planetarium Labs' vision of community-centric blockchain games that offer players creative freedom and full digital rights."

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Several game studios in the Asia-Pacific region are partnering with Planetarium Labs to follow the success of Nine Chronicles. They are preparing to launch several community gaming initiatives this year.

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

Beyond the successful closing of the fundraiser, the first steps for Planetarium Labs are to work on tools. The company will allocate the funds to create foundational tools for community gaming and player governance. The tools will also enable major studios to deliver increasingly sophisticated Web3 experiences.

The company plans to focus on continuously improving the Libplanet ecosystem for decentralized games. Planetarium Labs will also introduce several initiatives, such as ecosystem funds and community support programs.

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