12 April, 2024

Delabs Games Secures $4.7 Million Funding for Development on Polygon

26 Jul, 2023

31 Oct, 2023

  • Delabs Games, a blockchain game developer, raises $4.7 million in a seed round led by Hashed Ventures, targeting game development on the Polygon network.
  • CEO Joonmo Kwon sees the investment as validation for Web3 technology’s transformative potential in gaming, emphasizing player ownership of digital assets.
  • While set to release Rumble Racing Star this year, Delabs, distinct from U.S.-based DeLabs, integrates characters from prominent NFT projects in their games.

Blockchain game developer Delabs Games, known for Rumble Racing Star and other forthcoming titles, has completed a seed investment round, raising $4.7 million. Hashed Ventures spearheaded the funding round and saw participation from notable entities, including Spartan Labs, Polygon Labs, blockchain gaming startup Planetarium, and the gaming-oriented DAO Merit Circle.

Meanwhile, Polygon Labs has teamed up with esteemed game developer @Brypto_Official, aiming to reshape the play-to-earn landscape. Their joint venture introduces “Brilliantcrypto,” a pioneering game on the Polygon network that enables players to mine and collect genuine digital gemstones for use across a multitude of metaverse environments. Tapping into the innovative “Proof of Gaming” mechanism, Brilliantcrypto promises to infuse unique value into the rapidly growing metaverse.

Moreover, after the announcement from Polygon Labs, the point comes from the exclusive test event for Rumble Racing Star, aptly described as the “Mario Kart for NFT enthusiasts.” Delabs also has two more promising projects in their pipeline: Space Frontier, a space survival game, and Meta Bolts, a quirky post-apocalyptic survival title.

The fresh capital injection would primarily fuel these games’ development and bolster marketing and community engagement efforts. Delabs Games is particularly enthusiastic about crafting games on Polygon, a well-regarded Ethereum scaling network.

In reflecting on this milestone, Delabs Games CEO Joonmo Kwon—who formerly helmed South Korean gaming titan Nexon—commented,

This investment is a significant nod to the enduring potential of Web3 technology. It will transform gaming by granting players genuine digital ownership and dominance over their in-game assets.

It’s worth noting that Delabs Games operates as the crypto gaming division of the esteemed South Korean game developer 4:33 Creative Lab. With a legacy spanning 13 years in the industry and boasting a staggering 250 million global downloads, the parent company has launched popular mobile games like Boxing Star and Eroica.

As for release timelines, Rumble Racing Star is slated for a launch later this year, while debut dates for Space Frontier and Meta Bolts remain undecided. Delabs Games had earlier introduced an Adventure Pass NFT on Ethereum, offering holders special privileges in Rumble Racing Star and other games in their portfolio.

It’s important to note that Delabs Games is not the same as DeLabs, a U.S. startup responsible for popular NFT projects like DeGods. Despite being different companies, Rumble Racing Star features a character inspired by the y00ts project and other well-known initiatives like the Bored Ape Yacht Club (BAYC).


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