The lack of Web3 gaming infrastructure remains the biggest hurdle for mainstream adoption, according to Param Labs' CEO.
Gaming infrastructure developer Param Labs raised $7 million worth of funds in a “significantly oversubscribed” investment round.
The modular gaming ecosystem’s $7 million round was led by crypto venture capital (VC) firm Animoca Brands, with participation from investment firms including Delphi Ventures, Cypher Capital, P2 Ventures (formerly Polygon Ventures), Mechanism Capital, Merit Circle, TRGC Capital, Double Peak Group, MH Ventures.
The funding will be used to address one of the most pressing shortcomings of Web3 gaming — the lack of underlying infrastructure. Modular gaming ecosystems like Param will be crucial for laying the groundwork for the next generation of Web3 games, according to Anthony Anderson the CEO of Param Labs and Kiraverse.
