News

Tribo Games Raises $3.3 Million in Funding

A new whitepaper outlines the vision for the PvP squad battler and the Tribo Games platform, backed by $3.3 million in total funds raised.

Eliza Crichton-Stuart author picture}

Eliza Crichton-Stuart

Head of Operations

Tribo Games Raises $3.3 Million in Funding

Rumble Arcade has released a new whitepaper on the vision for the game and its creators, Tribo Games. The studio founded by mobile gaming veterans is on a mission to pioneer the next generation of multiplayer games. As their key web3 pillars, the studio lists robust and lively open economies and Decentralized Live Operations.

Fresh $3.3 Million in Funding

Along with the whitepaper release, the company made a funding announcement of $3.3 million raised to date. Backers include prominent funds and angels from both the crypto and gaming sectors. Among them are Play Ventures, Liquid X, Lizard Labs, and Avalanche. Merit Circle is a notable investor and strategic partner, with Rumble Arcade being built on the Beam blockchain.

Mika Kuusisto, CEO, commented: “The company was founded on the premise that Player Deserve Better. Incentive alignment is key to our growth model, but also an exciting opportunity to pursue unexplored gameplay patterns. New business models unlock new types of gaming content. We see where gaming is moving. We want to be the first to get there.”

Evolving The Games As A Service Model Further

Rumble Arcade leans on competitive events to distribute on-chain rewards and make the game feel alive. The studio says it’s opening the door for third parties to host their own events inside the game, and capture the value generated by popular activities. The approach has been coined as Decentralized Live Ops. 

The goal outlined in the whitepaper is to create an open-ended event framework for creative and autonomous community participation. A preview of this model can be seen in the ongoing Community Cup, where gaming guilds and other communities are co-hosting three-day-long competitions within the game.

Borja Guillan, CPO noted: “Live operations are critical to building long-lasting games and modern gaming IP. Web3 allows us to evolve the games-as-a-service model to an ecosystem-based one. We provide the venue, you bring the party.”

Tribo Games Raises $3.3 Million in Funding

Rumble Arcade Gameplay Screenshot

A Year Into Open Development

The studio prioritizes rapid iteration and a tight feedback loop with the community. Players have had access to an alpha version of Rumble Arcade since July of 2023. Tribo Games wants to “set the standard for mainstream web3 games”.  The studio is trying to win over players with elements such as snackability, easy onboarding, and a lightweight client.

While the mobile market is a priority for the studio, cross-platform play is mentioned as a key element to the go-to-market strategy for the first title as well as future ones. Rumble Arcade currently runs on browser or as a progressive web app. For more information please see the official press release here.


Investments

updated:

August 12th 2024

posted:

August 11th 2024

Related News

View All
Everything You Need to Know About Rumble Arcade

4 months ago

4 min read

Everything You Need to Know About Rumble Arcade

Discover key details from the Rumble Arcade whitepaper, including gameplay mechanics, NFTs, and the economy. Learn how to win NFT rewards by participating in the open alpha.

What are Blockchain Games?

10 months ago

6 min read

What are Blockchain Games?

Discover the innovative realm of blockchain gaming, reshaping how players interact with games. Dive into how the technology is unlocking new dimensions of ownership and governance in gaming.

VC Funding for Gaming Up 94% in Q1 of 2024

5 months ago

5 min read

VC Funding for Gaming Up 94% in Q1 of 2024

Explore the potential of web3 games in 2024 and beyond. Understand market dynamics, investment trends, and how blockchain technology can revolutionize the gaming industry.

Leaderboard

View All

Streaming