News

International venture fund Draper Dragon invests in ambitious MU project

MU Web3 infrastructure project will bring Web2.0 games studios into Web3

International venture fund Draper Dragon invests in ambitious MU project

International venture fund Draper Dragon has made a considerable investment in the MU project; an ambitious technical, financial, and publishing platform which enables Web 2.0 game developers to rapidly convert their new and existing titles into Web3.

Draper Dragon’s commitment brings the total investment to $2.1 million. As of April 28 2022, the MU token has been listed on the Huobi exchange.

Richard Wang, partner of Draper Dragon, commented: “As an investor in gaming, we believe MU has the power to transform the gaming industry through Web3 design, based on decentralized data networking and where the users create the value and themselves own the value.”

MU will also be renamed Lemuria as it develops into an ambitious Web3 infrastructure platform, encompassing technological, financial, and publishing support. Central to Lemuria’s offerings will be essential game design guidance to ensure developers can give their most powerful gameplay elements the full advantages of Web3.

Lemuria will also provide financial services to issue tokens, support NFT pre-sales, and secure funding, and will expand into a decentralised publishing service. The first game to be published is Hyborea Awakening, a play-to-earn (P2E) card battler released in early May, with initial NFTs currently available on gate.io.

"An organisation that exists to serve game developers"

Monte Singman, CEO of Lemuria, said: “We want to help bring the traditional games industry into Web3, and provide everything the developer needs. Lemuria will be able to support not only in-game NFT exchanges and in-game wallets, and a dashboard to control all of these elements, but also fundamental game design assistance to bring true gameplay innovation that can benefit the Web3 space, and vice versa.

“I want to create a decentralised publishing service where no one person is the boss. Rather, we break down the functions of a game publisher to collaborate with passionate partners all over the world, with a goal to create an organisation that exists to serve game developers.”

Singman is a games industry veteran of over 36 years. From initial roles in the Madden, Street Fighter, and Test Drive franchises among others, he subsequently founded several NASDAQ-listed companies and studios. Singman is also a veteran of games licensing in China, including Monument Valley, Gardenscapes, Homescapes, Toy Blast, and the Sonic the Hedgehog franchise.

For more details, visit lemuria.game. The company's current and upcoming games library can be accessed at miracles.games.


PocketGamer.biz regularly posts content from a variety of guest writers across the games industry. These encompass a wide range of topics and people from different backgrounds and diversities, sharing their opinion on the hottest trending topics, undiscovered gems and what the future of the business holds.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies