Atmos Labs Raises $11M in Funding to Develop ‘Metaverse Native’ Sports

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  • Seed funding will be used to grow the game world
  • Investors include NFT-focused brands Sfermion and Animoca

Blockchain game developer Atmos Labs has raised US$11 million in seed funding to develop native metaverse sports for its virtual world.

Sfermion, which has a $100 million non-fungible token (NFT) investment fund, led the round, which also included web 3.0 serial investor Animoca Brands, as well as Collab+Currency, FBG Capital. , CoinGecko Ventures, UniX Gaming and many others. .

The funding will be used to expand the development team and grow its community, as well as the virtual game world of Atmos – a sprawling sci-fi themed universe.

Atmos Labs believes that other attempts to bring competitive sports into virtual environments have been viewed with skepticism because they have too closely replicated physical sport and associated “legacy ideas”.

The company is confident that it can avoid these pitfalls by creating esports designed specifically for the metaverse and integrating blockchain technology with game-to-win mechanics. The ultimate ambition is to merge the innovation and appeal of esports with the fandom of traditional sports to create something truly engaging and unique.

“People are going to rally around the show of competition in the metaverse, just like they do in the physical world,” said Kevin Beauregard, founder and CEO of Atmos Labs. “We are building sports and entertainment native to the metaverse – a category that we believe will bring excitement and substance to the metaverse concept as a whole.”

As is common with other crypto-based gaming businesses, players will own their own gear, teams, and identities as NFTs. The first products and drops should be launched in the “coming months”.

“We are committed to building a world where players can generate value from gameplay, own and trade interoperable assets in non-proprietary marketplaces, and govern the ecosystems they helped create,” added Dylan Bushnell. , vice president of game design at Atmos Labs. . “It’s important to note that, all blockchain-related integrations aside, the games we develop could stand on their own.”

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