CCP Games Receives $40 Million in Funding for NFT MMORPG Game Development
Iceland-based gaming developer CCP Games, known for their popular MMO game EVE Online, has secured $40 million in funding from investment giant Andreessen Horowitz, also known as a16z. The investment will be used to develop a new online multiplayer game that will incorporate non-fungible tokens (NFTs) and be set within the same universe as EVE Online.
The MMORPG genre is hugely popular in the web3 gaming industry, as demonstrated by the success of games such as Big Time and Oath of Peak. NFTs are increasingly being used in gaming to create more valuable and meaningful in-game items and provide players with true ownership and control of their digital assets.
Despite not being a crypto-specific firm, a16z has become one of the biggest names in the crypto industry due to its significant investments in the space. Last year, the firm announced a $600 million fund for future gaming growth, and this latest funding round with CCP Games highlights its commitment to the intersection of gaming and blockchain technology. The use of NFTs in gaming is viewed as a way to enhance the gaming experience, rather than primarily as a means for monetary gain.