Sipher, led by renowned Vietnamese entrepreneur Nguyen Trung Tin, is developing a blockbuster crypto game called “World of Sipheria.”
The Vietnam-based team raised $6.8 million from leading venture capital investment firms in the crypto sector. Hashed, Arrington Capital, and Konvoy Ventures led the round, to help Sipher release the highly anticipated game in the foreseeable future.
World of Sipheria is inspired by casual MOBA games, like League of Legends, and open world metaverse, like Play Together.
Within the game, users will be able to combat other users with unique characters, improve their characters with in-game incentives, and eventually have their own metaverse.
In anticipation of the game release, Sipher introduced NFTs of World of Sipheria’s main character Sipherian Surge.
Over 10,000 Sipher Inu NFTs, were sold out in less than 15 minutes, and many crypto users rushed to OpenSea to buy the NFTs. It became one of the top 20 most traded NFTs on OpenSea for a few days.
The uniqueness of the characters, the rarity of NFTs, and the anticipation of an open world-style metaverse makes Sipher unique in the crypto game landscape.
As the game gets released, players will be able to combat other characters in an open arena setting.
This type of game experience closes the gap between the crypto game sector and the traditional game market, which focuses more on the game mechanism and experience, while crypto games focus more on how users get incentivized by playing the game.
The approach the Sipher team is taking to build a complex game with a deep-rooted story line would require significant development capacity and resources.
Some of the biggest funds in crypto, as well as top cross-chain wallets, guilds, and projects have also invested in Sipher.
Other investors in the round are Defiance Capital, Signum Capital, Dragonfly Capital, CMT Digital, BITKRAFT Ventures, Delphi Digital, Alameda Research, Fenbushi Capital, Sfermion, Hyperchain, GBV, Kyber Network, Coin98 Ventures, YGG and Merit Circle.
Hashed, the co-lead investor in Sipher, worked closely with Axie Infinity to help with its early growth as its main investor. Hashed has also backed leading games in the crypto industry, such as Blankos and Sandbox.
Konvoy also comes with a strong track record in the gaming scene, investing in Axie’s parent company Sky Mavis.
Arrington Capital, led by Michael Arrington, the co-founder of TechCrunch, has been one of the earliest funds in the space to focus on DeFi early on.
Tin, the founder and CEO of Sipher, emphasized that games are meant to be enjoyed, and Sipher will focus on making World of Sipheria enjoyable and engaging.
“First and foremost, games are meant to be fun. They are meant to be social. They are meant to invigorate, excite and bring people together for a common purpose, to enjoy time spent with each other. This is true for the most classic and for the most futurist of games. This is what makes games the most powerful medium for sharing and discovering amazing moments together,” Tin said.