NFT gaming company raises $8M in fundraising led by SkyBridge Capital

Vulcan Forged, a distributed ledgers, and NFT-focused gaming company have raised $8M in a Series A investment guided by SkyBridge Capital. The enterprise capital firm may invest a supplemental $33M.

Vulcan Forged intends to use funds to expand the MetaScapes metaverse-as-a-service powertrain and scale processes in North America or other key markets where the business currently runs.

News just broke that @Vulcanforged Series A will be backed by@FTX_Official owned @SkyBridge in 'major metaverse move'.

I will be breaking it down in this thread and provide some background info. $PYR $FTT

Thread 🧵⬇️ pic.twitter.com/7AcvXw4MpI

— Chris Romano (@ChrisRomanoC) September 21, 2022

The gaming production company has recently released several Web3 titles, including Berserk, Forge Arena, and VulcanVerse. Still, their current focus is on MetaScapes, which lets customers create and construct their virtual world environments and maintain the information inside an NFT.

According to Jamie Thomson, CEO and founder of Vulcan Forged, their item has seen rapid natural expansion over the last years, with their headcount increasing from two, including over 130 individuals. MetaScapes gained over 200,000 consumers across 15 video games throughout this period.

Vulcan Forged Metascapes, a play-to-earn engaging virtual world game that enables players to construct their property in the virtual world and shop those statistics through NFT, will benefit from the funding. Furthermore, the funds will expand Vulcan’s processes in North America and other industries. Vulcan Forged presently has approximately 15 video game and distributed applications, with approximately 200,000 users.

America as their final goal

Thomson stated that as they seek to enter new markets such as North America and establish a branch in New York City, they think that currently is the ideal time to leverage on their acceleration with a capital plan from Anthony Scaramucci and the SkyBridge Capital group.

Jamie seems to be a brilliant businessman, according to Anthony Scaramucci, Founder but also Managing Partner at SkyBridge Capital, who has fascinated him as he crowdfunded Vulcan Forged from such a tiny company to the best ten virtual world venture within the last years, with a sustained dedication to their thriving community.

Vulcan Forged and their MetaScapes powertrain are pretty well to change the legacy video game and entertainment businesses, and the company is eager to contribute to their advancement.

Last December, cybercriminals snatched 4.5M PYR, the Vulcan system’s native coin, worth approximately $140M and counting and accounting for approximately 9% of said coin’s available quantity. Vulcan Forged reimbursed nearly all its shareholders the $140M within one day of the hack.

All payouts were formed from Vulcan Forged’s finances, a fund used by crypto initiatives to save funds for emergencies. Beginning late on Monday night and persisting until Tuesday, payouts were created in PYR or LAVA altcoins. PYR altcoins dropped 34% to $21 last Monday due to the cyber-attack. PYR rose to $24 all through Monday before falling back to $21.15 at the time of writing.

The studio’s primary objective with this item is to eventually start competing with Mojang’s Minecraft.