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Blockchain Gaming Studio Argus Completes $10M Seed Round

Argus recently completed a seed round in an effort to advance the building of fully on-chain video games.

Tim Fries
Tim Fries Tim Fries is the cofounder of
Jun 6, 2023 2 min read
A gaming mouse, headphones and keyboard.
Image courtesy of 123rf.
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This Tuesday, Argus, a web3 gaming studio, announced it had successfully completed a $10 million seed round. According to its post, the company’s goal is to help build fully on-chain video games and it has created World Engine, a purpose-built blockchain for developers.

Argus Builds New Blockchain to Help Devs Take Their Games Fully On-Chain

On June 6th, Argus, a blockchain gaming company, announced it had completed a $10 million seed round. The round was led by Haun Ventures and has a series of well-known angel and strategic investors including Balaji Srinivasan, Anagram, Dispersion Capital, and Alchemy.

According to Argus’ Twitter thread, its goal is to help create fully on-chain games. It cites the creation of Dark Forest, the very first MMORTS that was built entirely on the Ethereum blockchain, as its roots.

In the same announcement, Argus revealed its World Engine aimed at solving the problems stemming from the current blockchain architecture that render game-making a difficult task. The World Engine is described as “a sharded rollup SDK designed to run games, not just JPEGs” which enables developers to “distribute their game load across high-performance game shards”.

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Video Game Companies Still Excited About Web3 Gaming

While the cryptocurrency industry has sustained significant damage throughout the “crypto winter” and in the wake of the ongoing regulatory onslaught, the notion of web3 gaming seemingly still has no shortage of supporters and enthusiasts.

Since the start of the year, multiple big names from the video game industry have moved toward investing in blockchain-based video games. At the very begging of June, for example, GameStop partnered with Telos to offer web3 games through its new launcher Pleyr.

Additionally, some well-known players in the industry have announced plans to embrace blockchain technology. In March, CCP Games, the developers of the popular EVE Online MMORPG, raised $40 million in an effort to create a new web3 video game of AAA quality.

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Do you think video games can benefit from being entirely built on-chain? Let us know in the comments below.

Web3 Web3 gaming
Tim Fries

Tim Fries

Author · Tokenist

Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.

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