Longhash Ventures Invests $1.5 Million in Particle Network to Address Web3 Tech Stack Issues
2022.05.04 17:41
Longhash Ventures Invests $1.5 Million in Particle Network to Address Web3 Tech Stack Issues
- Particle Network will help address the lack of Web3 mobile tech stacks and social graphs.
- The game dev platform bagged $1.5M from a seed round led by LongHash Ventures.
- Developers have already built several games using Particle Network.
Particle Network, a Web3 mobile game development platform, will help creators overcome “one of the biggest obstacles” in developing the Web3 gaming ecosystem, said LongHash Ventures Founding Partner Emma Cui.
Particle Network removes one of the biggest obstacles to the development of the Web3 gaming ecosystem: the lack of Web3 mobile tech stack and social graphs that developers need to efficiently build and launch immersive gaming dApps.
This statement came on the heels of Particle Network securing $1.5 million from a pre-seed funding round led by LongHash Ventures. The funding round also involved Insignia Ventures Partners, CyberConnect, BitCoke Ventures, 7 O’Clock Capital, FSC Ventures, and Monad Labs.
“By providing a fully managed backend infrastructure, Particle Network enables developers to accelerate their Web3 game development,” added Cui. She further explained that investing in such a project “underlines their bullish thesis” on Web3 mobile gaming.
According to a release shared with CoinQuora, the Web3 game dev platform will use the funds to grow its team and global developer community. Particle Network will also improve its launchpad to provide developers a seamless path, from ideas generation to mass scaling Web3 games.
It is important to note that Particle Network was introduced to “accelerate the gaming community’s transition to the cryptoverse.” The investment fund now would contribute to the company’s goal of allowing creators to focus more on developing games without “building everything from scratch.”
Pengyu Wang, CEO and co-founder of Particle Network, expounded on this:
“When we first ventured into the Web3 world as devs, we realized we had to build the very basics of a mobile app from the ground-up. That, however, creates unnecessarily high barriers to Web3 mobile app building, and each dev reinventing the wheel to create an app does not contribute to Web3 in the long term.”
Particle Network offers multi-chain support, enabling developers to build on Solana, BNB Chain, Polygon, Immutable X, Avalanche, Flow, Evmos, and Wax. Currently, the platform features games such as Merge Go, Designer 777, Idle Weed Inc, and Panda^2.
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