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A16z Leads $40M Funding Round for CCP Games
The studio behind Eve Online is planning to release a blockchain-based game.
Por Brandy Betz
Video-game developer CCP Games has raised $40 million in a funding round led by investment giant Andreessen Horowitz, the company said Tuesday in a statement.
The new capital will help CCP Games expand its research-and-development team to help create a blockchain-based massively multiplayer online (MMO) game title set within the universe of Eve Online, the pioneering online game first released by the studio in 2003.
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Andreessen Horowitz, which is known as a16z, announced its first gaming-specific fund in May 2022 with $600 million in committed capital. The firm is also one of the largest investors in the crypto industry, announcing its fourth crypto fund that same month with a $4.5 billion purse.
Iceland-based CCP, which was founded in 1997, said in the announcement that the new game would use smart-contract technology to create relationships between the virtual worlds and players. Other investors in the round included Makers Fund, Bitkraft, Kingsway Capital, Hashed and Nexon, among others.
“CCP Games is a pioneer in virtual worlds and digital economies with 25 years of experience creating living sandboxes with unparalleled depth,” said a16z general partner Jonathan Lai in the statement. “They're a veteran team, and we believe in their ambitious vision to deliver incredible player experiences at the intersection of best-in-class game design and blockchain technology.”
Read more: A16z Leads $25M Round for Web3 Startup Building Online Towns
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