Limit Break raises $200 million to build the future of Web3 MMO games 

Limit Break Inc., a company founded by Gabriel Leydon and Halbert Nakagawa, announces that it has raised $200 million in investment capital from Buckley Ventures, Standard Crypto, and Paradigm Ventures. Additional participants in the funding round include FTX, Coinbase, and Positive Sum.

NFT gaming and the metaverse showed the best dynamics in a bear market.

Limit Break’s incorporation of web3 elements into the gaming model could spell significant changes for how “free-to-play” games make revenue. Under the current system, these games are free to download and play, but developers earn profits through in-game ads or by selling additional features.

With Limit Break’s plan, players could directly support the game and its creators through microtransactions. The new business model would provide a steadier stream of revenue for developers and could potentially lead to more innovative free-to-play games.

The market is Huge for Play to earn Games

“The company’s perspective on free-to-play is that players should be able to get genesis NFTs for free and that these NFTs should be able to evolve into other NFTs over time. Limit Breakdown believes that this is a more fair and sustainable model than the alternative, which includes gimmicky fundraising strategies.” Limit Break stated on Twitter.

Amidst the current market conditions, it is no surprise that Limit Break was able to secure financing.

This goes to show that there is a growing interest in blockchain-based mobile games. In July, NFTs/gaming sector received $500 million in funding–this is the twelfth consecutive month where this deal type was the most favored. Out of all sectors, NFTs/gaming only falls second to infrastructure regarding funding.

Gabriel Leydon and Halbert Nakagawa, formerly the CEO and CTO of the mobile gaming company Machine Zone, founded the company. They have experience building free-to-play mobile games, including Game of War, Mobile Strike, and Final Fantasy: XV.  

Speaking to GamesBeat, Leydon said: “If you match free to play up against free to own, there’s no way for free to play survive. I don’t see how anybody goes back to free-to-play after that. Free to play is download the game for free by a bunch of virtual items that you can’t own essentially. We’re completely reinventing the game industry.”

Other blockchain-based mobile gaming firms that have raised money this year, including MetaverseGo and N3TWORK Studios, InfiniGods, and others.

More about Limit Break

Limit Break’s new game is still under wraps, but the studio is giving away free NFTs to early fans who can then sell their digital assets on NFT marketplaces. Limit Break will also retain an undisclosed percentage of the NFTs. Limit Break could generate revenue by selling NFTs at market prices alongside those sold by fans if the NFTs become valuable.

Limit Break released its first NFT collection, DigiDaigaku Genesis, earlier this month. The set includes 2022 adorable female anime characters who “live in a mysterious world unknown to outsiders.” On OpenSea, the collection currently has a floor price of 13 ETH.