Vulcan Forged, a leading blockchain game studio and decentralized application (dApp) incubator, announced today that it has secured $8 million in a Series A funding round led by SkyBridge Capital.
Led by SkyBridge, the funding round included an option to invest an additional $33 million. The newly raised capital will be used to further accelerate the growth of Vulcan Forged’s patented Metaverse-as-a-Service engine, MetaScapes, and enable the company to expand its presence in North America and existing key markets.
SkyBridge Capital is a company specializing in alternative investments in cryptocurrencies, digital assets, fintech and venture capital. It was founded in 2005 by Anthony Scaramucci, who also served shortly in the Trump administration.
Building on the success of popular Web3 games such as VulcanVerse, Forge Arena, and Berserk, Vulcan Forged has launched MetaScapes, the patented Metaverse-as-a-Service engine that allows users to create their own Metaverse lands to design, build, and store that data with irreplaceable commands. It exists in the form of an NFT. This innovative technology allows players to create their own virtual worlds with the click of a button and experience the power of virtual world creation without coding. MetaScapes is the result of several years of development, and the company expects that once the product launches, it will compete with the massive world of the popular game Minecraft.
SkyBridge’s investment in Vulcan Forged is part of the company’s plan to invest in emerging Web3 games and Metaverse as the industry matures and shows significant adoption and traction. This investment is not only intended to help expand Vulcan Forged’s presence in North America, but also to provide additional resources for the MetaScapes engine through talent and capital.
In 2021, Vulcan Forged created Elysium, its proprietary proof-of-stake blockchain built for games, dApps, and other Metaverse activities with fast transaction speeds and low gas fees. In addition to being compatible with the Ethereum Virtual Machine, Elysium is carbon neutral through a partnership with Coorest, which uses tokenized trees to offset its energy consumption and environmental impact. The more the Elysium blockchain is used, the more trees will be planted on the more than 5,000 hectares of land set aside specifically for this purpose in Spain and Greece.
Jamie Thomson, Founder and CEO of Vulcan Forged, said in a press release:
“Vulcan Forged has experienced rapid organic growth over the last two years—having expanded from two employees to over 130 and attracting over 200,000 users across 15 games and dApps without outside capital. As we look to expand into new markets like North America and open our office in New York City, we believe that now is the perfect time to capitalize on our momentum with a strategic investment from Anthony Scaramucci and his team at SkyBridge Capital.”
Anthony Scaramucci, Founder and Managing Partner at SkyBridge Capital, added:
“Jamie is a brilliant entrepreneur and has impressed me as he bootstrapped Vulcan Forged from a small startup to a top 10 metaverse project in the last two years, with a strong commitment to their growing community. Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level.”
Earlier in September, Sam Bankman-Fried led cryptocurrency exchange FTX acquired a 30% stake in Skybridge.
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Source: Igaming
