As Web3 and blockchain gaming offer incredible new possibilities for developers and gamers alike, there remains a considerable barrier to entry for many of these games. Instead of simply downloading and starting to play, the process can be quite challenging. LootRush, a Web3 gaming platform, aims to change this by simplifying the experience and recently secured a $12 million seed round to make this vision a reality.
Crypto firm Paradigm led the funding round, with participation from Andreessen Horowitz (a16z), Y Combinator, and Brex founders. Additionally, angel investors involved in the round included the founders of Axie Infinity, Plaid, Wildlife Studios, Dapper Labs, The Chainsmokers, and Vivi Nevo.
Established in 2022, LootRush was founded on the idea of making Web3 gaming as user-friendly as mobile gaming or playing video games on Steam. LootRush explains, “Playing a game on Steam is as simple as installing the Steam client, purchasing the game you want, and then downloading it to play. Within a few clicks, you’re enjoying the latest and greatest PC video game.” However, with Web3 games, players face a high barrier of entry. As interest in these games continues to grow, players seek solutions that allow them to go from intention to enjoyment quickly and cost-effectively.
LootRush aims to make Web3 gaming more accessible and efficient by stating, “We believe that trying out games and NFTs should be easy, natural, and affordable based on initial lending. We will enable gamers to own NFTs, and we help NFT owners find great players.” Upon signing up for the platform, users can select the game they want to play and choose the NFTs they wish to use from a curated list. “We enable players to enjoy games with NFTs at 100x lower cost, offering more flexibility and a wider range of NFTs to have fun with.”
At the moment, LootRush’s game selection is limited. As of writing, only Axie Infinity is available to play, with several other titles listed but not yet accessible. The seed round should help expand the platform’s offerings in the future.
While LootRush continues to develop towards an official launch, there is no indication yet as to when this will occur.