B3
Introduction
Over the past decade, the emergence of smart contract blockchains has introduced a wave of innovations such as decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs). These advancements have not only reshaped the financial services landscape but have also augmented various industries—including the gaming sector.
The ubiquity of standards on public blockchain (IE: ERC-721 standards for Ethereum NFTs) have made it easier than ever for in-game items to be interoperable with not just a wider variety of games, but with the decentralized finance (DeFi) stack. As a result, in-game assets (avatars, skins, land, currencies, etc.) can now truly be owned and financialized like traditional assets (real estate, public and private equities, etc.). Consequently, game economies can benefit from greater liquidity and price discovery for cosmetic items and in-game currencies.
However, while the original crypto gaming thesis remains intact, many developers have become disillusioned with the critical problems between the needs vs. realities of onchain game developers. Game developers seek seamless user experiences (UX), unified liquidity, one-click deployment, and compatibility with crypto onramps. But today they are often confronted with a fragmented UX, fractionalized liquidity across multiple chains, high rollup-as-a-service (RaaS) overhead, and a lack of compatibility with onramps.
B3 changes this!
Overview
Developed by NPC Labs, B3 is a horizontal ecosystem of layer 3 (L3) blockchains, built on Base, that are focused on crypto games.
Base has quickly emerged as one of the preeminent layer 2 (L2) blockchains in the crypto ecosystem, largely due to its affiliation with Coinbase. Since launching in August 2023, Base has been profitable, growing, and sticky. Today, Base has the second largest number of wallets of any L2 (behind only Arbitrum) and is home to many applications such as Uniswap, Friend.Tech, USDC, ThirdWeb, OpenSea, Zora, and more.
By aligning with Base’s tooling and culture, B3 can build a robust L3 gaming ecosystem, strengthening Base's position as the dominant venue for consumer crypto applications.
The B3 Stack
Security layer: Ethereum, one of the most decentralized and secure layer 1 blockchains.
Settlement layer: Base, a low-cost, builder-friendly L2 incubated by Coinbase.
Blockspace: B3, an L3 that allows for further scaling and offers dedicated blockspace, low gas fees, and improved transaction speeds for gamers.
B3 Rollup Network: B3 horizontally scales by sharding at the application layer, orchestrating dedicated side chains for apps, games, and computationally heavy operations.
Discovery layer: Join.B3.Fun acts as the discovery layer for onchain gaming, serving as a front-end landing page and game launcher where players can discover and play B3 rollups/games with seamless cross-chain UX.
Today on B3, you can play popular onchain games across Web, Mobile, Desktop, and Telegram, such as Dino Runner 3D, Anomaly Pinball, PewPew Tap, and more!
Key Players and Their Contributions
The core of B3 is its team which collectively brings ~20 years of experience in the crypto ecosystem. Furthermore, the team demonstrates incredible team-market fit, having led the business development and ecosystem of Base from zero-to-one.
Daryl Xu serves as B3’s Chief Executive Officer (CEO). Previously, Daryl led the gaming and onboarding ecosystems for Base while at Coinbase. There, he cultivated impactful partnerships with onchain developers, builders, and Web2 games studios.
Viktoriya Hying serves as B3’s Chief Product Officer (CPO). She previously led the social and creator ecosystems for Base, cultivating partnerships with onchain platforms, enterprises, and web2 brands.
Sean Geng serves as B3’s Chief Technology Officer (CTO). Sean previously was an Engineering Manager at Coinbase where he worked on Coinbase Wallet and Coinbase NFT—and started 2 companies before that.
Pantera is excited to have led an $18 million round into B3 (NPC Labs) alongside other incredible investors such as Mirana Ventures, Collab+Currency, Sfermion, Bitscaple Capital, and Mantle EcoFund.
Conclusion
In conclusion, B3 represents a significant shift in the Base gaming ecosystem, addressing the critical challenges faced by onchain game developers. By providing a seamless user experience, unified liquidity, and enhanced compatibility with crypto onramps, B3 is set to revolutionize the landscape of crypto gaming. With strong leadership, innovative technology, and robust investor support, we at Pantera believe that B3 is poised to be a key player in the future of blockchain gaming.
Join the B3 Community
Interested in learning more? Check out B3’s website here or start playing some games on B3 here!
- Paul Veradittakit
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LETS MEET UP
Walks and coffee meetings in San Francisco throughout the year!
ABOUT ME
Hi, I’m Paul Veradittakit, a Managing Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing in blockchain companies and cryptocurrencies. I’ve been in the industry since 2014, and the firm invests in equity, early stage token projects, and liquid cryptocurrencies on exchanges. I focus on early-stage investments and share my thoughts on what’s going on in the industry in this weekly newsletter.
If you have an projects that need funding, feel free to DM me on twitter.