Carbonated Inc. Raises $13M in Series A Funding for NFT-Enabled Shooter Game MadWorld

Quick take:

The company will use the funds to accelerate the development of its iOS and Android-based NFT game MadWorld.

The post-apocalyptic shooter game opened registration for early access playtest on Thursday, Decrypt reported.

The company previously raised $8.5 million in a seed round announced in July 2020.

NFT gaming studio Carbonated Inc. has closed a $13 million Series A round led by South Korean mobile game publisher Com2uS.

The fundraising also attracted participation from Andreessen Horowitz (A16z), Bitkraft Ventures, Cypher Capital, Blocore, Goal Ventures, and WAGMI Ventures. A16z led Carbonated’s $8.5 million seed round announced in July 2020.

The studio plans to use the fresh capital to accelerate the development of its post-apocalyptic NFT shooter game MadWorld, which opened registration for early access playtest on Thursday.

MadWorld, which will be available on both iOS and Android blends combat territory ownership, leveraging non-fungible tokens for land assets in the game.

According to the game’s description, the game is based on a post-apocalyptic version of Earth, which allows players to collect and trade tokenised land assets based on real-world locations. Each of the 250,000 land plots has particular resources, which rival clans will battle to control.

They can also gain control over the desired section of the land by paying tribute to the land owner, which is settled using the in-game currency dubbed Rounds, which Carbonated plans to eventually turn into an on-chain token.

“To maintain and increase tribute benefits, landowners can sink Rounds into their land. Rounds can be converted to our future on-chain token, which is pending early access feedback from players.” Carbonated CEO Travis Boatman explained to Decrypt’s GG.

Although many blockchain gaming companies have focused on building web-based games, Boatman believes mobile is the likely avenue that will bring Web3 gaming to the masses.

“We think mobile is where the breakout will happen for Web3,” Boatman told Decrypt’s GG. “Mobile gamers are super familiar with purchasing digital goods with digital currency. We believe it’s only one additional cognitive step to do this on-chain,” he said.

“While the usability still needs to be improved—and lots of great companies are working hard on this—it still all rests on great game experiences to drive it,” Boatman added.

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