Maven 11 Capital is excited to announce our investment in the $5M Series A funding for Stardust, led by Framework Ventures. Stardust is an all-in-one platform that streamlines the process of NFT implementation in games.
The past few months have seen incredible growth in the adoption of non-fungible tokens (NFTs). One of the sectors in which NFTs play a huge role is the gaming industry, where a shift away from pay-to-play towards play-to-earn has started to take place. More and more games have started revolving around in-game economies, with in-game currencies and items being core tradable assets in these games. To provide authentication, provenance, and decentralized trading and ownership, putting these types of inherently digital assets on a blockchain has tremendous added value.
The act of integrating these in-game digital assets and NFTs is challenging though. Users need to be relatively familiar with cryptocurrencies, while the TAM of this market is naturally much larger than just crypto-native users: the global microtransaction market is valued at over $30B. In a similar vein, game developers need to be technically-skilled to implement the infrastructure required for these assets in their games.
There is a clear demand for a simplified experience of in-game NFT trading and development. We believe the Stardust platform is positioned well to facilitate this experience and increase adoption of NFTs by both gamers and developers. Stardust helps game developers to easily integrate NFTs in their games and enables players to buy those NFTs using crypto, credit card, and fiat payments.
“We are incredibly excited to be backing Stardust on their mission to bring in-game NFTs to the masses. We’re confident that their platform comes at the right time and is also the right approach for solving problems that both end-users and developers are facing regarding in-game NFTs. In our vision, the metaverse will become an undeniable concept in the future and Stardust will make user interaction with that completely new domain much easier.” Balder Bomans, managing partner at Maven 11.
We look forward to working with the Stardust team in bringing NFTs to a every game and gamer, and continue to build the metaverse and the future of gaming together.