The Iceland-based blockchain gaming platform CCP games have raised $40 million in a funding round led by Andreessen Horowitz. The CCP team plans to utilize the funds to develop an interesting triple-A game.
The upcoming gaming project aims at transforming the gaming industry might require heavy capital, necessitating the firm to seek external funding. CCP games affiliate Pearl Abyss has offered abiding support in seeking financial asistance from Bitkraft, Nexon, and Maker Funds, among other blockchain-based games.
Importance of CCP Games Funding Round
A statement from CCP Games chief executive Hilmar Veigar Pétursson revealed that the research and development (R&D) team would use a significant portion of the funds to create the new game. Pétursson argued that the R&D team would be tasked to conduct extensive research to create a triple-A gaming centred on the blockchain network.
The triple-A project team will be required to utilize CCP Games’ proprietary tools, such as smart contracts and blockchain technologies, to launch multiplayer features that boost user experiences. Beyond this, CCP Game plans to invest in the continuous development of the triple-A game to ensure it meets the needs of the virtual world.
According to Pétursson’s report, the new game will enable the CCP Game to attain its long-term objective. A review of the CCP mission statement states that the firm will aim at improving the virtual world by integrating new features.
The team has planned to improve blockchain technology to support the players’ gaming interests. In his March 21 address, Pétursson acknowledged the support from digital firms to enable CCP Games to develop a new product in the gaming industry.
CCP Games Contribution in the Virtual World
The desire to revolutionize the gaming sector prompted CCP Games to merge with the leading virtual game creator in South Korea, Pearl Abyss, at a $425 million buyout deal in 2018. The gaming company gained global recognition after releasing Eve Online.
Per Petursson’s report, the triple-A gaming will be built on the Eve Universe to attract a large audience. Elsewhere, the general partner of Andreessen Horowitz, Jonathan Lai, revealed that CCP Games has unmatched potential in creating gaming products for the virtual world.
Lai remains optimistic that the new triple-A game will cement CCP Games market position in the gaming world.