Atmos Labs raises US$11m to develop sports metaverse

U.S.-based blockchain game developer Atmos Labs has raised US$11 million to support its development of metaverse-based sports games.

NFT investment firm Sfermion led the seed funding round which also included investments from Hong Kong blockchain powerhouse Animoca Brands and others, according to Atmos on June 13.

The funding will be used to expand the development team, grow its community and develop the world of its play-to-earn metaverse game, Atmos.

Set in the 2500s, Atmos is an esports race and allows players to own virtual land, where minerals can be mined to create NFTs. The tokens can then be combined to customise “Exo,” a in-game flight suit used by players that can be bought and sold on a marketplace and secondary trading platforms such as OpenSea.

The first play items are expected to be available within a few months. The game is also currently being developed on the Ethereum chain, but the company is considering introducing other blockchains.

Kevin Beauregard, founder and chief executive of Atmos Labs, said: “People are going to congregate around the spectacle of competition in the metaverse just like they do in the physical world.”

“We are building metaverse-native sports and entertainment — a category we believe will bring excitement and substance to the metaverse concept writ large,” he said.

“We’re committed to building a world in which players can generate value from gameplay, own and trade interoperable assets in non-exclusive marketplaces, and govern the ecosystems they helped create,” said Dylan Bushnell, vice president of game design at Atmos Labs.

In April, Animoca Brands and its subsidiary Grease Monkey Games (which is also investing in Atmos Labs) announced a new metaverse-themed blockchain motorsport game called Torque Drift 2. The Bandai Namco Group is also planning to launch Gundam Evolution, the first Gundam first-person shooter game with esports elements by the end of this year. The game is part of the Gundam Metaverse Project aimed at connecting fans of the popular Mobile Suit Gundam series.