Captured By Tracy D'souza / 2:39 pm on 18 May 2024
Param Labs, a gaming infrastructure developer, has secured $7 million in a heavily oversubscribed funding round to address one of Web3 gaming's biggest challenges: the lack of foundational infrastructure. The round was led by crypto venture capital firm Animoca Brands and saw participation from Delphi Ventures, Cypher Capital, P2 Ventures (formerly Polygon Ventures), Mechanism Capital, Merit Circle, TRGC Capital, Double Peak Group, and MH Ventures. Anthony Anderson, CEO of Param Labs and Kiraverse, highlighted the importance of modular gaming ecosystems in building the foundation for future Web3 games.