CCP Games Secures $40 Million in Funding Round Led by Andreessen Horowitz for a New AAA Blockchain Title
In Brief
CCP Games is embarking on its initial adventure into the realm of blockchain gaming.
The game studio is crafting a new AAA title blockchain game set against the backdrop of the sci-fi MMORPG, EVE.
This upcoming game’s development is distinct from ongoing and previously announced projects, including EVE Online.
The Icelandic game developer CCP Games has successfully raised $40 million in an independent funding round led by Andreessen Horowitz (a16z), with support from notable web3 venture capital firms like Makers Fund, BITKRAFT, Kingsway Capital, HASHED, and Nexon.
Best known for its creation of the sci-fi space exploration MMO, EVE Online, CCP Games plans to use this new investment to build a AAA blockchain game set within the EVE universe.
With key gameplay systems constructed on blockchain, this new endeavor, codenamed Project Awakening, will utilize smart contracts to redefine player interactions within virtual realms.
“CCP Games has been at the forefront of digital worlds and virtual economies for 25 years, crafting intricate sandbox experiences. Their veteran team inspires confidence in their bold ambition to enhance player interactions at the crossroads of top-tier game mechanics and blockchain innovation,” remarked Jonathan Lai, General Partner at a16z.
Founded in 2003, CCP Games was acquired for $425 million by South Korean developer Pearl Abyss, the creators of Black Desert Online, in 2018. This acquisition, closed in October 2018, stipulated that CCP Games would retain its operational independence with studios located in Reykjavik, London, and Shanghai, while incorporating Pearl Abyss’ vast expertise into their projects.
This private financing comes on the heels of Pearl Abyss indicating plans for a new web3/blockchain initiative to be managed by CCP Games. Q3 2022 earnings call During the previous year’s Game Developers Conference, CCP Games' CEO Hilmar Petursson was seen in discussions with leaders from Delphi Digital, BITKRAFT, and Yield Guild Games regarding EVE Online. Nonetheless, the production of this new title remains independent from other ongoing projects, including EVE Online, which is celebrating its 20th anniversary. meeting with The announcement of Pearl Abyss and CCP Games' blockchain gaming aspirations stirred significant discussions within the gaming community last year. Following this, Petursson clarified that CCP Games had 'no intentions of incorporating blockchain technology into the global server Tranquility for the foreseeable future.'
“While we find the technology fascinating, for us, NFT represents ‘Not for Tranquility.’ Moving forward, the EVE intellectual property will keep pushing the limits of digital economies and virtual environments – and we will continue to explore this outside of TQ,” he added.
As Project Awakening’s development is not linked to EVE Online, it remains uncertain if this new title will incorporate NFTs.
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Disclaimer
In line with the Trust Project guidelines Cindy serves as a journalist at Metaverse Post, focusing on web3, NFT, metaverse, and AI topics through interviews with industry leaders in Web3. She has engaged with more than 30 C-level executives, delivering their valuable insights to readers. Originally hailing from Singapore, Cindy currently resides in Tbilisi, Georgia. She boasts a Bachelor's degree in Communications & Media Studies from the University of South Australia and has spent a decade honing her journalism and writing skills.
