Crypto Rogue Games closes $1.5m seed round

Crypto Rogue Games closes $1.5m seed round Duncan is an award-winning editor with more than 20 years experience in journalism. Having launched his tech journalism career as editor of Arabian Computer News in Dubai, he has since edited an array of tech and digital marketing publications, including Computer Business Review, TechWeekEurope, Figaro Digital, Digit and Marketing Gazette.


Crypto Rogue Games has successfully closed its $1.5m funding round, including game-focused VCs such as Merit Circle and Avalanche, which strongly believes in the studio’s approach to pioneering the future of gaming with the help of web3 technology.

The investment round will help accelerate and expand the development of Crypto Rogue Games’ upcoming hack ‘n’ slash Action RPG called Crystals of Naramunz. The investment aims to put the studio at the forefront of the next wave of game studios using blockchain technology as part of their tech stack. 

Other participants in the round were SNZ, Coinfund, Lyrik Ventures, Devmons and Bryan Pellegrino, CEO and co-founder of Layer Zero.

A spokesperson for Crypto Rogue Games said: “For a small studio in Umeå, Northern Sweden, it’s a monumental boost to have these international VCs on our cap table. They bring a wealth of knowledge and a strong global network benefitting our studio moving forward. Even more importantly they share our vision for how web3 should be used in games. This vision is coming to life in our upcoming hack ‘n’ slash ARPG Crystals of Naramunz which will be showcased at GDC this year.”

Steven Bryson-Haynes, head of investment & partnership Merit Circle, said: At Merit Circle Investments, we live and breathe quality game play. Crystals of Naramunz scored very high in our internal extensive playtests. The founders’ extensive experience in the realm of action role-playing games, coupled with their skills in crafting captivating gaming economies, perfectly matches the best use cases of blockchain gaming. We’re thrilled to be part of their adventure and can’t wait to see them reach millions of players.”

With a game-first and player-centric approach, Crystals of Naramunz aims for a seamless and frictionless web3 experience that stays true to the player while providing added value, allowing players to craft items that can be traded in an open market, ultimately enabling true ownership of players’ hard-earned loot. 

Parker Heath, senior business development associate at Avalanche, said: “The Avalanche gaming team partners with projects based on team quality, game design, and vision for web3 gaming. Crypto Rogue Games excels in all three areas. With their A-tier team and expertise (spanning from e-commerce to designing Path of Exile), Crystals of Naramunz promises to redefine web3 ARPGs. Its intuitive gameplay, accessible web3 elements, and engaging core loop make it a standout project. We’re thrilled to support Naramunz in shaping the future of web3 gaming.”

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