NPC Labs, founded by ex-Coinbase employees, raised $21M to boost GameFi development on Coinbase’s Base network.
NPC Labs, a GameFi infrastructure startup that three former Coinbase employees established, has raised $21 million to expedite gaming development on Coinbase’s Ethereum layer 2 network Base.
Pantera Capital, a venture capital firm specializing in cryptocurrency, provided $18 million of the funding.
According to a July 22 report by VentureBeat, which was reposted on X by NPC, Makers Fund, Hashed, Mirana Ventures, and numerous other investors also contributed.
NPC claims to assist developers in the commercialization of their GameFi projects and offers them a greater level of support than they typically receive when working with wealthy publishers.
Daryl Xu, the CEO of NPC and a former business development associate at Coinbase, stated that developers are dependent on publishers to determine whether their games are worthy of support, marketing, and dissemination after spending years developing them. “And when they do, developers forfeit 70% of the revenue, and the publisher may withdraw the game if it fails to generate an adequate amount of revenue.”
Such a setup would return “control” back to the game developers and gamers,” Xu said.
“We want to help build fun games for the mom in Nebraska while making it dead simple for developers to benefit from being onchain.”
In order to accomplish this, NPC will be a key contributor to B3, a layer 3 GameFi-focused blockchain constructed on top of Base. B3 will be responsible for bridging in-game assets, gas fees, and transactions.
Developers will be able to concentrate more on deploying enjoyable content in this manner, as NPC observed.
Viktoriya Hying, the chief operating officer of NPC, who, like Xu, had previously worked at Coinbase, stated that the decision to build on top of Base was simple.
Sean Geng, the other founder of NPC, was also employed at Coinbase as an engineering manager.
Although Base was a latecomer to the Ethereum layer-2 space, Hying observed that it is well-positioned to connect wallets to Coinbase’s 100 million user base.
Hying stated, “Our objective is to simplify and ensure the safety of the retail user, despite the inherent complexity of crypto.” “We aim to eliminate the obstacles that impede an enjoyable and effortless experience.”
Additionally, Ethereum and other blockchains that are compatible with the Ethereum Virtual Machine are supported by B3.
