Vulcan Forged will use the funding to expand operations in North America.
Global investment firm SkyBridge Capital led an $8 million Series A funding round for blockchain game studio Vulcan Forged, the firms have announced.
The financing round also includes the option for a further $33 million investment, according to a press release from SkyBridge Capital. Vulcan Forged also confirmed the announcement via its official Twitter account.
We're delighted to have @SkyBridge, part owned by @FTX_Official, co @Mets owner and ex-White House Advisor @Scaramucci lead our Series A for Vulcan Forged.
We can now take VF to new levels, especially in North America with our new backers.$PYRhttps://t.co/EpkXFhBjCW
— Vulcan Forged (@VulcanForged) September 21, 2022
Strategic investment from Anthony Scaramucci firm
Jamie Thomson, the founder and CEO of Vulcan Forged sees this a strategic investment that has come at a “perfect time” for it and the company will capitalise on it to continue its growth momentum.
In particular, Vulcan Forged, also a leading decentralised applications (dApps) incubator, will use the funding to accelerate growth of its metaverse-as-a-service engine dubbed MetaScapes.
As per the play-to-earn gaming company, the funds will help it scale its operations across North America and other key markets. Part of the expansion will see the company open a new office in New York City.
Vulcan Forged has released some top web3 game titles, including VulcanVerse, Berserk and Forge Arena, and looks to extend its reach with new ventures across the metaverse space with MetsScapes.
“Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level,” said Anthony Scaramucci, the founder and managing partner at SkyBridge Capital.
Elysium is a proof-of-stake (PoS) blockchain platform Vulcan Forged launched in 2021. The highly scalable platform with low gas fees, is purpose-built for decentralised applications, gaming, and NFTs and other metaverse features.