EVE Online Creator Raises $40M for New Web3 Game

CCP Games, the company behind the popular MMO game EVE Online, has raised $40 million to develop a new game that will be integrated with blockchain technology. The game, which is currently codenamed "Project Awakening", will take place within the EVE Online universe but will be a standalone game.

According to CCP Games CEO Hilmar Veigar Pétursson, the new game will utilize advancements in blockchain technology to create a universe that is deeply imbued with the company's expertise in player agency and autonomy. The game will incorporate smart contracts and attention will be paid to composability, open third-party development, and data persistence.

The funding round was led by crypto-forward venture capital firm Andreessen Horowitz (a16z), with participation from BITKRAFT Ventures and Makers Fund. The game represents a milestone for the entertainment sector as a venerable studio such as CCP Games embraces Web3.

EVE Online, which was released 20 years ago, has long been a staple of the massively multiplayer genre and still averages more than 273,000 daily players, with a total base of around 9.5 million accounts. The new game is expected to attract even more users to the Web3 gaming market and could attract further investment for other developers looking to build similar products.

According to Andrii Yasinetsky, the CEO and co-founder of NFT data analytics firm Mnemonic, the upcoming game from CCP Games is a significant milestone for the growing entertainment industry, as a respected studio embraces Web3. He also added that having a reputable team backed by a serious firm for the Web3 gaming market is a positive sentiment. Yasinetsky believes that the incorporation of blockchain in gaming could attract regular users to Web3 and also encourage further investment for other developers interested in creating similar products.

CCP Games is not the only major gaming company looking to break into the Web3 gaming market. Epic Games executive Steve Allison recently revealed that the company has nearly 20 third-party, crypto-enabled games that are expected to hit its online store over the next year. The first crypto game, Blankos Block Party, has already been launched by Mythical Games.

The emergence of big names like CCP Games and Epic Games into the Web3 gaming space marks a significant shift in the gaming industry. As more traditional gaming companies explore blockchain and NFTs, the possibilities for immersive, player-driven experiences in the metaverse will continue to grow.

The potential for blockchain and NFTs to revolutionize the gaming industry is enormous, and we are only just beginning to scratch the surface of what is possible. The future of gaming is set to be a thrilling and constantly evolving landscape.