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# Hong Kong-based VC Animoca Brands leads $32 million round of web3 gaming startup
- URL: https://www.techloy.com/hong-kong-based-vc-animoca-brands-leads-32-million-round-of-web3-gaming-startup/
- Published: 2022-07-07T07:45:44.000Z
- Updated: 2022-12-08T01:17:48.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: Web3, Gaming, Hong Kong

Web3 gaming startup, [Planetarium Labs,](https://www.planetariumlabs.com/) has raised its Series A funding round of $32 million led by Hong Kong-based gaming investment firm, [Animoca Brands.](https://techloy.ghost.io/ghost/#/posts?tag=animoca)

- Planetarium Labs will use the fund to build out its network with tools for gaming and player governance.
- The startup is based on Libplanet, a software development package that allows developers to build blockchain applications mainly on the Unity game development platform.
- The idea is to allow web3 gamers and the gaming community to access a decentralized network to power each game.
- Samsung Next, Krust Universe, Kakao, an investment firm, and WeMade invested in the round.