Gaming

CryptoKitties Dapper Labs Raises $15M To Develop The Future of Blockchain Gaming

With the popularity of CryptoKitties undoubtedly one of the most successful blockchain-based game we have seen so far, aside from online casinos, it comes as no surprise that the mastermind behind the invention of the cute virtual kitties is planning on a $15 million into crypto gaming concepts.

Canadian based company Dapper labs were the brains behind a game that most people paid no attention to when they initially heard the concept behind CryptoKitties. However, now we all know blockchain games in which people can own and dictate the prices or exchanges of their digital assets acquired via gaming software, Dapper Labs is looking to expand on their previous success.

Due to blockchain technology’s ability to create permanent transaction records a standout feature that would have watered the mouths of potential investors is that users of the CryptoKitties dApp spent over $1 million worth of ETH.

The original game was based on the Ethereum blockchain using a decentralised dApp, which is currently the undisputed number one blockchain based game we have seen to date.

CryptoKitties is a game in which people breed their own virtual kittie. They can then breed with other kitties creating highly valuable varieties of these kitties with some sold for up to $100,000. Admittedly the fad has died down somewhat since its release, but the successful proof of concept in action has shown us all that the possibility of a follow-up game from Dapper Labs was always going to be just around the corner.

$15 Million Was The Figure Announced Coming From Latest Funding Round

A press release being circulated by PRNewswire Silicon Valley’s well-known venture capitalist firm Venrock led the fundraising round on behalf of Dapper Labs. GV (previously Google Ventures) were also involved as well as Samsung NEXT.

The idea behind the latest round of funding is so Dapper Labs can expand its operations in the Canadian domestic market and reach new pastures by expanding globally. The global expansion will start slightly closer to home just over the order in the United States with former executives from global giants such as Disney and Unity.

Domestically, Dapper Labs have managed to acquire the services of experienced figures within the game’s world from famous gaming companies like EA Sports. Plus, adding to the list includes hires from tech-savvy online personnel headhunted from ESPN, Zynga, Amazon, and Hasbro.

Zynga Appointments Have Allegedly Been Made to Pursue Web 3.0 Gaming Ambitions

A recent website called https://www.whatisdapper.xyz/ allegedly created by Dapper claims that “Dapper Labs, the team that brought you CryptoKitties is putting more than cats on the blockchain”. There is a button below to request an invite.

As Zynga has a reputation for developing Web 3.0 mobile based web games, it makes sense that adding members from the San Francisco based company would be simply to provide their expertise from experience working at arguably the world’s number one company when it comes to developing Web 3.0 games that are currently played on millions of smartphones and tablets globally.

Games such as Farmville 2, Empires and Allies, Crazy Kitchen, Chess with Friends, Crazy Cake Swap, and more are all similar to CryptoKitties. Furthermore, the concepts of these games could be expanded upon to create mini-worlds in which people own, buy, design, trade and sell their digital assets.

This is a similar idea to Robot Cache, which is a company that plans to allow people to own the games they buy online using blockchain tech to buy the game, play it, and sell it when they are done – something companies as Valve do not allow.

The Gaming Industry Has Learned Valuable Lessons from CryptoKitties

Now many of you out there may be thinking “Hasn’t CryptoKitties died a death?” It is true that the game attracted more than 1.5 million users in just half a year at which time it caused chaos on the Ethereum network due to its popularity. At peak hours the game hogged 25% of Ethereum’s network.

On the flip side, it did mean that the Ethereum development team realised that the network needed a severe overhaul and since then, that is precisely what they have been doing. This is excellent news for all those with a vested interest in the success of the Ethereum ecosystem.

That said, gamers are not so interested in the performance of the network, and more concerned about what does the future hold for blockchain gaming owing to the success of CryptoKitties.

Yes, the game’s traffic has dropped, and kitties are not being sold for the outrageous prices we saw when the game was first released. However, with better planning and more investment, a long-term strategy isn’t impossible. In fact, every big business out there tried, failed, tried again, learned from their mistakes until eventually, they found the right formula.

Precisely the same is happening with Dapper Labs. If the likes of Venrock see potential and offer their services for fundraising, and Samsung NEXT plus GV are presently interested, then we must believe there is a new era of gaming about to hit the blockchain community.

Let’s not forget that a huge $15 million was raised in the latest round, plus the company has raised $27.85 million including its latest haul. There is serious money in the online gaming market, and if blockchain solutions can improve the way it operates and offer consumers better value, then Dapper Labs is a company to keep a keen eye on.

James Donaghue

My name is James, but most people call me Jim. I am a proud father, I enjoy playing sports and I love to travel. Another hobby of mine is keeping a close eye on the blockchain and its development. I have been investing in cryptocurrencies since early 2017; however, my journey into the blockchain began in 2015, which stemmed from a career in FOREX. Since that time I have provided regular market data analysis reports on the financial performance of mainstream as well as lesser-known currencies and ICOs. More recently I have become a regular blockchain news writer and research contributor.

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