Neon District Developer Blockade Games Is Now Valued at $13 Million

via ‘Neon District’ / Blockade Games

Blockade Games, the startup behind Neon District, an upcoming blockchain-based, multiplayer cyberpunk RPG, has raised an $833,000 seed equity round from investors including BlockTower Capital Partners and Horizon Digital.

Blockade Games was created by Marguerite deCourcelle, who is regarded as one of the Bitcoin community’s best-known artists.¬†According to a report by CoinDesk, it was her reputation that drew Ari Paul, managing partner at BlockTower Capital, who then decided to explore the investment.

However, upon further investigation, it seems Paul discovered the greater potential of bringing blockchain technology to the gaming industry, citing non-fungible assets as a clear driver of value creation.

“There are tremendous economic incentives for game developers to integrate cryptocurrency and for game players to want them to,” Paul said. “I think we’ll see a rapid move towards this because we‚Äôll see the economics are so beneficial in a straightforward way.”

Neon District’s storyline allows gamers to take on the role of rebels, called Degens, which are in constant battle against The Mainspring, an autocratic and mechanical government is attempting to wipe out all previous signs of culture and independent thought.

The gameplay features third-person party battles, where characters, equipment and other in-game assets gain experience points over-time. These assets are represented by ERC-721 non-fungible tokens (NFTs) and are recorded on the Ethereum Network via the Loom DAppchain.

News of the fundraising round comes just a month after we reported that Blockade Games began raising a $1.5 million seed round through an open raise on Paperstreet, a compliance infrastructure platform for token sales and investor syndication.

Neon District’s public beta is currently scheduled for May of next year.

More: Bitcoin Puzzle Artist’s Crypto Gaming Startup Now Valued at $13 Million

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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