Twitch co-founder Kevin Lin‘s web3 interactive media company, Metatheory, has raised $24 million in a Series A fundraising round. Andreessen Horowitz (a16z) led the fundraising round, according to a press statement issued earlier today. The corporation didn’t say how much it was worth.
Other notable investors included Pantera Capital and FTX Ventures, Breyer Capital, Merit Circle, Recharge Thematic Ventures, Dragonfly Capital Partners, Daedalus, Sfermion, and Global Coin Research, according to the news statement.
Commenting on this development, Lin, who is also Metatheory’s CEO, said,
“Building immersive digital experiences have always been a passion of mine, and after stepping away from Twitch to explore what’s next in the industry, I truly believe blockchain will open the door to even more possibilities and have a major impact in the gaming, storytelling and community building space.”
He went on to say that Metatheory has a team of industry experts working on bringing blockchain technology to a variety of media categories, with an emphasis on enhancing consumer experience and shared ownership.
While there are several entrance routes into the expanding web3 field, Metatheory uses the game industry as its initial creative canvas. The business specializes in creating brands with strong IPs that last beyond the games.
Jonathan Lai, General Partner at Andreessen Horowitz, said,
“Metatheory is redefining how games and stories are told from the bottom up using web3 primitives, and we couldn’t be more excited to partner with CEO Kevin Lin, a proven leader and company builder.”
To read our blog on “eFounders, a European startup firm, has launched a web3 sector,” click here.
