NFT game company Big Time Studios completes $21 million in funding led by FBG Capital and others

Startup game developer Big Time Studios has raised more than $21 million in funding.

NFT game company Big Time Studios completes  million in funding led by FBG Capital and others

Key points.

Startup game developer Big Time Studios has released Big Time, an ethereum-based PC role-playing adventure game.

The studio’s members include developers of popular games such as Fortnite and Call of Duty. To date, the company has raised over $21 million in funding.

This year, the NFT market has been on a boom, with sales of original artwork, NBA highlight video clips and other quirky digital products making frequent headlines. At the same time, blockchain games with embedded NFT items have also gained prominence and attention. Ether-based games (such as Axie Infinity, The Sandbox and Sorare) have emerged as the biggest winners.

Now, Big Time Studios, a game development studio made up of industry veterans, is making a splash in the crypto game market. The startup’s first game is Big Time – an ethereum-based online role-playing adventure game for PC. Players can battle side by side to amass valuable loot and rewards. These loot items are tradable NFTs and are hosted by Big Time Studio.

The company’s vision is for traditional major gaming companies to adopt cryptocurrency and NFT technology. In terms of development path, Big time will also build its own large-scale RPG, which is expected to go live in beta next year and officially in 2022. The fantasy character will take on the role of “Albert Einstein” and run a “school of doom”. Players will explore and find rare NFT items together in a long journey through time and historical battles. These items are purely decorative in nature and will not be acquired through purchase or affect gameplay.

Big Time Studio closed a $21 million financing round. The funding will be split into two parts, with the first $10.3 million led by FBG Capital, with North Island Ventures, Digital Currency Group, OKEx Blockdream Ventures, Alameda Research, LD Capital, YBB Foundation, Circle Financial, and Sound Ventures, founded by Ashton Kutcher. In addition, Big Time Studio is about to close an $11 million round of funding, which will be used to invest in game companies willing to use related NFT technology.

The team currently consists of 25 traditional game industry veterans who have worked for giants such as Epic Games, Electronic Arts and Riot Games, and have been involved in creating such well-known games as Fortnite, Call of Duty, League of Legends and Gears of War.

However, Big Time Studios leaders have extensive experience in the crypto gaming industry. CEO Ari Meilich served as co-founder of Decentraland, spearheading the drive for the NFT game Decentraland, an ethereum-based open-world sandbox experience. The game was later managed by a decentralized autonomous organization (DAO). Although Meilich left Decentraland, he still holds an advisory role.

One important difference with Big Time Studios’ NFT game is that its asset hosting and management is simple and user-friendly. Meilich told VentureBeat that Big Time will host wallets and keep assets in an off-chain escrow system, rather than having players manage their own NFTs and be responsible for security. Players will be able to bring assets into the game as needed.

Meilich stated.

Players are no longer at risk of losing their private keys. This is a problem I’ve encountered repeatedly in Decentraland. Players spend hundreds or thousands of dollars, but then lose their private keys. They’re frustrated, but there’s nothing we can do about it.
Compared to most crypto games, this is a big shift. Having the private key hosted by the gamer allows players to get the financial benefits of the game without having to worry about the potential obstacles and dangers associated with handling digital assets in an external wallet. According to the report, Big Time Studios could also allow users to withdraw in-game assets to their own wallets, provided there is indeed a large demand for them.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/nft-game-company-big-time-studios-completes-21-million-in-funding-led-by-fbg-capital-and-others/
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