Argus Labs’ Seed Funding Yields $10M for Developing Ethereum Gaming Networks

The San-Francisco-based crypto game developer Argus Labs announced on June 6 to generate $10 million in a seed funding round. The announcement stated that Haun Ventures led the successful seed funding round in collaboration with Robot Ventures, Dispersion Capital, Anagram, and Alchemy.

Other investors actively participating in the funding round included Scott Moore, the co-founder of Gitcoin, Sunny Aggarwal, and Sandbox VR Siqi Chen.

In a previous report, the Argus team had revealed plans to create an Ethereum layer-2 network for blockchain games. The gaming developers intend to utilize the Argus World Engine to allow the players to code their on-chain mods independently.

Argus Labs Seed Funding Round

A World Engine is a unique software development kit (SDK) that supports the game developers in creating their layer 2 blockchain network that will utilize the Ethereum-based zero-knowledge proof (ZKP). The World Engine offered developers total control of the chains and could either customize the chains or determine the duration the game would live on the chain.

Additionally, the Argus developer plans to use the zero-knowledge proofs, which are vital in verifying ZK-Rollup transactions. Zero-knowledge technologies are among the latest innovation in crypto, which expedites the transaction processes. Also, the ZKPs improve transaction privacy.

In 2020 Argus founder Scott Sunarto and his team utilized the ZKPs technologies to develop a crypto game, “Dark Forest.” During the launch, Sunarto remains optimistic that many games can be live on chains.

Commenting on the World Engine platform, Sunarto stated that this technology has enormous potential to support user-generated content using blockchain technology. He added that the World Engine had enabled the developers to create on chain complex games, such as multiplayer online role-playing games (MMORPGs).

Features of World Engine

In his statement, Sunarto confirmed that he had engaged in extensive research to pursue different ways crypto technologies can be integrated into video games. Recently the uncertainty in the digital space has forced key market players to flee from play-to-earn, among other crypto projects.

Sunarto recently observed that web3 game developers had invested heavily in developing nonfungible tokens (NFTs).

He regretted that the shift to NFTs gaming elements had hindered the developers from utilizing other crypto properties when developing the on-chain games. Sunarto explained that integrating only the NFT element into games would inspire other developers to add additional features to the game.

Objective of Argus Seed Funding

Instead, Sunarto argued that blockchain games  which allows players to develop user-generated content (UGC) would boost user experiences. He mentioned that most blockchain games allow players to integrate additional gaming features.

In addition, Sunarto was pleased to announce that blockchain games allow the user to code on smart contracts.

He outlined the main feature of crypto scaling, such as shards and the role of sharding. Sunarto mentioned that sharding features enable the developers to integrate new servers on the network more effectively.

He added that the main objective of integrating numerous crypto features into games aims to provide the developers with a customization feature. The developers encourage the players to grow their projects within a Web3 ecosystem through customization.

Argus Reveals Next Move

Referring to the Dark Forest game, Sunarto noted that the players managed to create their guide system along with their decentralized communities. He observed that the players were excited to develop their smart contracts and store their resources in a common pool within the game.

In a separate report, the Haun Venture noted that the blockchain network provides complete game optimization. However, the lead investor at Haun Ventures stated that the blockchain network is unsuitable for “run games.”

Experts from Haun Ventures explained that Solana, Ethereum, and Polygon networks lack sufficient gaming optimization elements. Therefore Argus plans to bridge the existing gaps in gaming using its World Engine.

The Haun team pledged to support Argus in restructuring the World Engine into an open source linked to the Layer-2 blockchain network. The team plans to shard the blockchain networks to enable the World Engine to facilitate the “Internet of Games.”

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