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External Funding Secured for Ambitious Project

CCP Games has raised $40 million in funding to make a new triple-A blockchain game set in the Eve universe.

The new game is a big project and that’s why Reykjavík, Iceland-based CCP Games went beyond its owner Pearl Abyss to look for external funding. Andreessen Horowitz (A16z) led the round, with participation from Makers Fund, Bitkraft, Kingsway Capital, Nexon, Hashed and additional participants.

This financing will allow CCP Games to build upon the discoveries of its research and development team to enable the full-scale development of a new triple-A title utilizing blockchain technology, said CCP Games CEO, Hilmar Veigar Pétursson, in an interview with GamesBeat.

With key game systems developed on-chain, this new project will also leverage smart-contract
blockchain technology, focusing on persistence, composability and truly open third-party development
to create a new relationship between virtual worlds and players.

“Since its inception, CCP Games’ vision has been to create virtual worlds more meaningful than real life.
Now, with advancements made within blockchain, we can forge a new universe deeply imbued with our
expertise in player agency and autonomy, empowering players to engage in new ways,” said Pétursson. “This financing has marked an exciting frontier in our studio history as we begin our third decade of virtual world operations. We are humbled by the confidence from our partners in the development of this new title.”

Eve Online launched in May 2003. In September 2018, Black Desert creator Pearl Abyss of South Korea bought CCP Games for $425 million. It was a huge sum for a company running a game that has been around for almost 20 years and is still a big success. But this new idea called for outside investment.

Innovative Approach to Game Development

“CCP Games is a pioneer in virtual worlds and digital economies with 25 years of experience creating
living sandboxes with unparalleled depth,” said a16z General Partner, Jonathan Lai, in a statement. “They’re a veteran team and we believe in their ambitious vision to deliver incredible player experiences at the intersection of best-in-class game design and blockchain technology.”

“The depth and nuances of EVE have become a frequent point of reference in blockchain gaming and we
are therefore thrilled to support the team’s impressive vision of expanding the EVE Universe utilizing this
technology,” said Makers Fund principal Alli Óttarsson, in a statement. “As a former employee, it’s a great personal joy to be reunited with CCP and to witness their continued passion for creating truly meaningful virtual worlds.”

“We’ve long marveled at stories of interstellar war, spaceships forever lost, and the constant challenges
of staying ahead of emergent, sovereign play patterns,” said Bitkraft Ventures partner Carlos Pereira, in a statement. “Hilmar and the team’s experience is unmatched, and we’re excited to see how they use blockchain to let players dream further.”

Alongside independent financing, this new title’s production is separate from current and previously disclosed projects, including Eve Online, which is now in its landmark 20th year.


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