LongHash Ventures leads a $1.5M pre-seed funding round for Web3 mobile game development platform Particle Network
The decentralized web or Web3 has grown at a rapid pace in the last two years. From its glory days of static pages or Web 1.0, the Internet quickly evolved to Web 2.0 which brought platforms and user-generated content such as blogs, videos, social media, and other services.
However, Web 2.0 put the Internet in the hands of Big Tech companies and other large organizations that centralize control and benefit disproportionately from the value it creates. The idea behind Web3 is to decentralize this control and give it back to the people that create the value.
This has led to billions of dollars pouring into the Web3 space as investors look for the next big winners. One of the startups in the space is Particle Network, a Web3 mobile game development platform that aims to accelerate game developers’ transition to Web3.
Today, LongHash Ventures, one of Asia’s leading Web 3-focused venture funds and accelerator, announced it has led a $1.5 million pre-seed funding round for Particle Network to help provide developers with the toolkit to build, host, and scale gaming dApps with ease.
The funding round also includes participation from Insignia Ventures Partners, CyberConnect, BitCoke Ventures, 7 O’Clock Capital, FSC Ventures and Monad Labs. Particle Network will utilize the funds to grow its team, nurture its global developer community, and polish the launchpad to give developers the fastest path from idea to mass scaling Web3 games.
In a statement, Emma Cui, Founding Partner of LongHash Ventures, said: “We’re excited to back Pengyu Wang and the team at Particle Network. This investment underlines our bullish thesis on Web3 gaming and, more specifically, Web3 mobile gaming. Particle Network removes one of the biggest obstacles to the development of the Web3 gaming ecosystem: the lack of Web3 mobile tech stack and social graphs that developers need to efficiently build and launch immersive gaming dApps. By providing a fully managed backend infrastructure, Particle Network enables developers to accelerate their Web3 game development.”
“We’re grateful to be backed by an incredible group of investors in this round of financing led by LongHash Ventures,” Particle Network Co-founder and CEO Pengyu Wang said. “When we first ventured into the Web3 world as devs, we realized we had to build the very basics of a mobile app from the ground-up. That, however, creates unnecessarily high barriers to Web3 mobile app building, and each dev reinventing the wheel to create an app does not contribute to Web3 in the long term. Now with Particle Network, developers can focus on creating amazing gaming experiences without worrying about building everything from scratch.”
Particle Network offers multi-chain support, enabling developers to build on Solana, BNB Chain, Polygon, Immutable X, Avalanche, Flow, Evmos, and Wax. Developers have already built numerous Web3 games using the Particle Network platform, including Merge Go, Designer 777, Idle Weed Inc, and Panda^2.
Particle Network is a Web3 mobile application data and development platform, allowing developers around the world to build scalable, multi-chain, and reliable Web3 mobile apps without in-depth knowledge of blockchain technology. It also helps developers clean and structuralize on-chain data, then connect the processed data with first-party client data, enabling developers to build user DIDs and conduct targeted product iterations and operations.