Irreverent Labs is taking names and funding projects
Irreverent Labs is the company behind the massive 5 million $ funding round that was just completed. If you’ve not heard of them, it’s a company led by Rahul Sood, who co-founded betting company Unikrn and led Microsoft Ventures. His newest project, Irreverent Labs, is betting big too, however not on gambling, but rather on crypto and NFTs.
His $5 million round was completed incredibly fast – in less than eight days, total. Backers include some incredible names – for example, Silicon Valley firm Andreessen Horowitz, Chainsmokers Mantis VC (led by the band the Chainsmokers), Keen Crypto, Advancit Capital, and Unlock Venture Partners.
As Sood As Before
Rahul Sood is by no means new to the tech world – his successful and explosive track record in the tech industry no doubt helped him draw in the partners for this funding round for Irreverent Lab. Perhaps even more notable though, is what this whole affair means for the NFT and crypto world. With more and more projects popping up, it’s quite impressive to see such major names getting involved – and the potential here is enormous.
There aren’t too many AAA-level ventures out there yet, but with names like Sood’s attached, this could be about to change. “This is like the highlight of my career,” Sood said.
“It’s everything I love all wrapped up into a little project which I think is going to be a real success.”
Irreverent Labs hasn’t unveiled their first project yet, but they plan to do so in the next month or so. Sood has teased some details – it will be another metaverse project, along the lines of CryptoVoxels, Decentraland and similar, where users will be able to own, buy and sell characters. NFTs will also be characters in the game not piloted by players, but controlled by AI capable of intelligent learning.
As with just about any crypto project, users will be able to earn crypto as they play the game. Zed Run, a popular horse collection and racing game has been cited as a comparable name – horses can be bred, and have their own ‘life’. Another thing Zed has in common with this project is once again Rahul Sood – he was an early investor!
The investment partners of the funding round also spoke positively about the upcoming metaverse project:
“Irreverent Labs’ first game is so delightfully eccentric and simple to play, it’s easy to overlook the technical achievement of shaping truly original NFT characters with advanced machine learning,” said Arianna Simpson, partner at Andreessen Horowitz.
The game has been in development some time and things like the company’s economy have been modelled out a fair bit already. In other words, there are long-term plans, and with it being a metaverse project, we can expect Irreverent Labs to deliver a complex, long-term NFT project. No doubt interest will be immense, in no small part because of the names already attached to it!