Web3 Game Developer Particle Network Raises $1.5M Led by Particle Network
Particle Network, a platform for building and operating blockchain-powered mobile games, has attracted a new $1.5 million investment led by Web3 fund LongHash Ventures.
The pre-seed funding round for Particle Network aims to accelerate game developers’ transition to Web3 by providing developers with the toolkit needed to build, host and scale game dApps.
Investors in the round also included Insignia Ventures Partners, CyberConnect, BitCoke Ventures, 7 O’Clock Capital, FSC Ventures, Monad Labs and other strategic blockchain investors.
Particle Network plans to use the new capital to add more features and integrations to the Marketplace, as well as grow its membership and nurture its global community of developers around the world.
Particle Network has created a multi-channel platform that allows game creators to create Web3 casual games that anyone can play, regardless of their familiarity with the underlying crypto technologies. It allows developers to build on Solana, BNB Chain, Polygon, Immutable X, Avalanche, Flow, Evmos, and Wax.
Redefining the money-making gaming infrastructure for Web3, the first games announced were Merge Go, Designer 777, Idle Weed Inc and Panda^2.
Despite the difficult start to the year for the cryptocurrency market, blockchain-based games have only grown in popularity.
Emma Cui, Founding Partner of LongHash Ventures, comments: “This investment underscores our bullish thesis on Web3 gaming and, more specifically, Web3 mobile gaming. Particle Network removes one of the biggest barriers to developing the Web3 gaming ecosystem: the lack of the Web3 mobile technology stack and social graphics that developers need to effectively build and launch immersive gaming apps. By providing a fully managed backend infrastructure, Particle Network enables developers to accelerate the development of their Web3 games.
LongHash Ventures supports the Terra ecosystem
Pengyu Wang, co-founder and CEO of Particle Network, added, “When we first ventured into the world of Web3 as developers, we realized that we had to lay the groundwork for a mobile app at start from nothing. This, however, creates unnecessarily high barriers to building Web3 mobile apps, and every developer reinventing the wheel to build an app is not contributing to Web3 in the long run. Now, with Particle Network, developers can focus on creating amazing gaming experiences without worrying about building everything from scratch.
Earlier in April, LongHash Ventures partnered with Terraform Labs, the South Korean company behind the Terra public blockchain, to support projects building on the Terra ecosystem.
The heart of this alliance is to open a Singapore-based program created in 2018 to support Web3 development for Terra-related startups. They call it the “LongHashX Accelerator Terra Cohort”.
In striving towards a world where all blockchains can communicate seamlessly, LongHash Ventures has showcased the capabilities of its accelerator partnership model to sponsor leading Web3 protocols based on the Terra blockchain.
LongHash said it has made some improvements to its program, such as hosting weekly workshops and fireside chats with industry leaders, as well as one-on-one consultations with teams.