Animoca Brands has entered into a simple agreement for future equity (SAFE) with blockchain gaming studio Experimental Group to participate in Experimental’s seed round of funding.
Experimental is a blockchain gaming studio based in Argentina that has produced CryptoWars, the very first fully decentralized game. Experimental was founded by Matías Nisenson (the CEO) and Luciano Bertenasco (the CTO), two young entrepreneurs who sold their previous software company Tiempy.com.
Experimental successfully completed its seed round, raising over US$500,000 from serial entrepreneur and investor Sumit Gupta (who sold his gaming company for US$170m, invested in Discord, founded Boom TV), Pato Jutard (who sold his gaming company to Disney), Julien Turri (who sold two companies and is the owner of one of the major performance marketing agencies in Brazil), and Argentina’s government-backed venture capital firm YAVU, among others.
CryptoWars, the main product of Experimental, is a strategy simulation game built on the Ethereum blockchain. It launched in January 2019 and quickly became highly popular among thousands of blockchain gamers, clogging the Loom network several times and processing 450,000 transactions in a single week. Players in CryptoWars create and customize a settlement, form alliances, build armies, and wage war over the control of nearby realms.
CryptoWars is the first strategy game to run entirely on smart contracts, meaning that all in-game items obtained by players truly and verifiably belong to them in the form of fungible tokens and non-fungible tokens (NFTs).
The amount invested by the Company into Experimental was not material. In addition to the investment, Animoca Brands and Experimental have agreed to market and promote each other to their respective platforms and networks, collaborate on the launch of CryptoWars in Asia, and discuss additional opportunities for collaboration, including distribution of Experimental’s products. Animoca Brands will also act as an advisor to Experimental in matters connected to Asian markets and gaming.
Yat Siu, co-founder and chairman of Animoca Brands, said: “We are thrilled with our third investment in an Argentinian company. Experimental is a true pioneer in blockchain gaming, with the first decentralised strategy game to run entirely on smart contracts. We believe in the capabilities of its highly competent management team and look forward to working together on many exciting projects.”
Matías Nisenson, the CEO of Experimental, commented: “We’re excited to join forces with Animoca Brands and other amazing investors to bring blockchain gaming into the mainstream! Expect some amazing news from CryptoWars in the near future, now that we have the team, the funds and the perfect fit!”