Crypto startups make it rain as Stardust pulls in $30 million funding

Venture capitalists have historically run rampant in the web3 gaming space. However, recent months have seen a steady decline in activity from investment firms amidst the crypto winter we are experiencing. Overall crypto gaming is a thriving industry as we see professional crypto esports competitions being held in different parts of the globe and the entry of big time web2 gaming brands onto the blockchain.

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Image Credits | Stardust

$30 Million in Funding

Stardust is the most recent company making the headlines for receiving impressive funding from hopeful investors.

In total Stardust has amassed $30 million in funding which was led by Framework Ventures, with further contributions from Acrew Capital, Blockchain Capital and Distributed Global.

Stardust is a platform that will allow for the creation of virtual reality games via blockchains such as Solana and Polygon. Stardust is somewhat a mature company in regards to web3, being founded back in 2018 by their CEO Canaan Linder. They reside in California, USA and currently have a 40 man team working behind the scenes.

Cryptokitties the infamous crypto game project was one of the main driving forces behind the inception of Stardust claims Canaan Linder. He also had a love for Yu-Gi-Oh, the popular trading card game and Anime for those that may have missed the reference in the company’s name!

“I first encountered blockchain when I discovered CryptoKitties. It is a virtual game that allows users to own, trade and breed cats in the form of unplayable tokens. The game appealed to me because I’m an avid collector, but the user experience proved challenging even for me, a software engineer and developer.” – Canaan Linder, founder and CEO of Stardust

The Team’s Main Goal

The team’s main aim is to bridge the gap for web2 gamers into web3 gaming. As the gaming industry has grown into a multi billion dollar industry the next step for many will be the new and fresh approach the blockchain has to offer. Stardust platform will give access to NFTs also a common theme amongst crypto gaming platforms. Another drought of sorts is being experienced in the NFT space so the inclusion from gaming companies will make things interesting for the status quo of this niche.

Development teams using the Stardust platform are charged a fee, per user found on their game. This acts as Stardust’s main income for the future development of the project and so on.

Currently there are 4 main products and services found via the Stardust platform. They are:

  • Custodial Wallet
  • Marketplace API
  • Stardust vault
  • Developer dashboard
  • Blockchain API

Overall Stardust has great potential as their infrastructure will present new means for bridging the gap for traditional gamers and dev teams to the blockchain. Crypto gaming is an industry that is full of passionate, young minds that have one aim and that is to create the best interactive entertainment sources that revolutionise the common concepts of gaming and tech.

Be sure to keep an eye out for Stardust and their platform’s updates as developers will hopefully see the potential behind the teams vision!