Web3 gaming firm Limit Break raises US$ 200M for MMO gaming

Limit Break, the blockchain gaming company behind the DigiDaigaku NFT collection, has raised US$ 200 million over two funding rounds, it announced on Monday. The founding round was led by crypto venture capital firm Paradigm Ventures, Buckley Ventures and Standard Crypto. 

Additional round investors include Coinbase, FTX, Anthos Capital, and Positive Sum.

The fund will be used to support the development of Massively Multiplayer Online (MMO) Web3 video games.

Along with theDigiDaigaku launch, Limit Break introduces the ‘Free to Own’ gaming model by incorporating Web3 elements into the old ‘Free to Play’ gaming model. The ‘Free to Own’ model allows users to free mints for Genesis NFTs. ‘These Genesis NFTs lead to other NFTs through airdrops and more, none of which involve gimmicky fundraising tactics,’ the company wrote.

Free to own is a novel concept that aims to reward early NFT collectors for contributing to the development of games. Limit Break will give away NFTs via its ‘free mint game’ for early participants. These participants are free to sell their NFTs on marketplaces like OpenSea. This is the opposite practice of what most other blockchain gaming firms do.A majority of them only presell NFTs before their games launch and keep a percentage of the NFTs for themselves.

Limit Break 

Limit Break was founded by Gabriel Leydon and Halbert Nakagawa in August 2021. The founders are both known for founding the mobile gaming company Machine Zone, which built mobile free-to-play games including Game of War, Mobile Strike and Final Fantasy: XV.  

DigiDaigaku

DigiDaigaku is an NFT collection that features 2,022 anime-inspired characters with various traits, created by Limit Break. 

To date, the highest recorded sale so far is DigiDaigaku #379, which was sold 59 ETH (US$ 89,000) on Aug. 25.

Photo: DigiDaigaku