VeradiVerdict - Issue #246
Worldwide Webb is developing an interoperable free-to-play, browser-based role-playing video game (RPG). The retro-style game is fully on-chain, allowing users to interact with each other and tackle various challenges to overcome different obstacles and reach new game levels. Pantera is thrilled to have recently led Worldwide Webb’s $10M Series A round as they create amazing gaming experiences backed by web3 technology.
Source: Coindesk / Worldwide Webb
The most unique aspect of Worldwide Webb is that it allows players to bring their own NFTs from various blockchains into the game as avatars. Currently, the game supports over a million NFT avatars on Ethereum. Worldwide Webb’s first major release is called Blockbusterz, a browser-based player versus player (PvP) game where users compete in battles and are rewarded with access to higher-level NFT mints. All transactions in-game are done on the blockchain, and all in-game items and avatars are created by minting on-chain. This allows players to have much more autonomy over their assets and ensures that rarity is maintained. The first version of the game was released in late 2021 and the game is still currently in early-access alpha.
A shot from Season 0 of Blockbusterz. Source: Worldwide Webb
Worldwide Webb has made significant progress in achieving product milestones, most recently of which was rolling out multiplayer functionality into their V3 engine. In addition, gameplay mechanics have also been introduced into their V3 engine which allows the team to integrate combat systems, AI implementation, player progression, and more into their RPG gameplay. The next phase of development for Worldwide Webb includes introducing co-op PvE gameplay where players compete in a dungeon-like environment. Most recently, Worldwide Webb released Season 0, a fully validated competitive gaming environment fully within the browser.
Prior to Worldwide Webb’s Season 0 release earlier this month, the team completed the Halloween release (October 2022) and the Christmas release (December 2022). The Halloween release gave players daily objectives over 4 days to increase engagement and allow players to more thoroughly explore the game. The Christmas release brought players an arcade-style game where players competed against bosses in a single-player environment to earn NFT rewards based on performance and rankings.
The web3 game was founded by British artist and game designer Thomas Webb. The team has made seven hires since the beginning of 2023 to build out Worldwide Webb’s games, including game developers, pixel artists, community managers, and producers. These hires will focus on building out Worldwide Webb’s game design, increasing engagement, and managing strategy and retention.
Source: Worldwide Webb / Decrypt
Sehaj Singh, investment associate here at Pantera, commented on Worldwide Webb’s game design: “Worldwide Webb bridges the gap between traditional gaming and NFT communities via an ever-expanding catalog of browser-based mini-games, where every player can leverage a unique identity (in the form of an NFT). Not only has Webb’s rapid-iteration on game development led to fun and engaging mini-games, but the Worldwide Webb platform has provided yet another channel for NFT communities to enhance engagement and community building.”
We at Pantera are thrilled to have backed a creative and fun gaming platform that integrates blockchain technology at an integral level. Worldwide Webb is poised to be a leader in the space as the team continues to build out user-focused gaming experiences.
- Paul Veradittakit
Pantera Capital Puerto Rico Management, LP and its affiliates (“Pantera”) makes investments in crypto assets and in blockchain-related companies. Pantera and/or its affiliates or personnel may be an investor in, or have relationships or other business arrangements related to, certain instruments, companies and/or projects discussed herein. This document does not contain any advertisement for Pantera’s investment advisory services, or any other services or products, whether provided by Pantera or otherwise. The information and opinions presented in this document are solely those of Paul Veradittakit; they do not represent, and should not be interpreted as representative of, the views of Pantera or any other individual working for Pantera, and do not represent investment, legal, tax, financial, or any other form of, advice or recommendations. Neither Pantera nor Mr. Veradittakit is acting, or purports to act, as an investment adviser or in a fiduciary capacity with respect to any recipient of this paper. Information contained in this document is believed to be reliable, but no representation is made regarding such information’s fairness, correctness, accuracy, reasonableness or completeness. There is no obligation to update this document or to otherwise notify a reader if any matter stated statement or information contained here changes or subsequently is shown to be inaccurate. Nothing contained herein constitutes any representation or warranty as to future performance of any financial instrument or company. Forward-looking statements should not be relied upon, and performance or outcomes may differ materially from what is contemplated herein. Opinions included here incorporate subjective judgments or may be based on incomplete information. This document does not constitute or contain an offer to sell or a solicitation to buy any securities or a recommendation to enter into any transaction, and no reliance should be placed on this document in making investment decisions.
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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.