Press Release
Crypthulhu Studios, a California-based NFT gaming company, today announced that it has closed $3 million in a round led by Coatue and Dapper Labs. This fresh capital comes as Crypthulhu launches its flagship game, Dimension X. Dimension X is a free-to-play, play-to-earn strategic NFT role-playing game built on the Flow blockchain, which has quickly emerged as the blockchain of choice for game developers and powers digital experiences including NBA Top Shot and NFL All Day.
Crypthulhu was founded on the promise that Web3 games will fundamentally change the relationship between developers and players. Historically, once players are done playing, they are left only with the experience of playing the game - similar to seeing a movie or going to a concert. Crypthulhu is leveraging Web3 games to pioneer a new extension of gaming that allows players to not only have an experience, but also leave a game with an NFT. This NFT can potentially be played in future games, can be held as a collectible, or can be moved to another player on the blockchain.
Mike Gordon, CEO of Crypthulhu Studios, explains: “I developed the idea for Crypthulhu when I was playing World of Warcraft and a friend asked me what I ‘owned’ in the game. My answer was the players, but my friend argued that I was only renting them. It was at this moment that I understood the potential of web3 for the gaming industry. As we build the Crypthulhu team, I am energized by the number of possibilities to leverage the blockchain and give dedicated players like me a meaningful stake in the games they love.”
“When we first met Mike and listened to his vision for Crypthulhu, we immediately saw the potential to bring world class gameplay to the blockchain,” said Matt Mazzeo, General Partner, Coatue. “Mike exemplifies the kind of founder Coatue is thrilled to work with and we look forward to supporting the team as they define a new category of gaming.”
"Crypthulhu Studios’ first principles approach to building web3 games at scale deeply resonates with how we view building applications at Dapper Labs,” said Mik Naayem, Chief Business Officer of Dapper Labs. “We’re thrilled to continue working closely with Mike and the Crypthulhu team as they build games on Flow that are truly fun and have the potential to reach the billions of mainstreams users still new to web3.”
Crypthulhu will use this capital to support the next stage of development on Dimension X and build its team. To play Dimension X, visit their website. If you are interested in learning more about Crypthulhu or joining our team, please reach out to Stephanie Ramos, Crypthulhu’s Vice President of Operations.
About Crypthulhu Studios
Crypthulhu Studios is a cryptogames production studio focused on bringing world class gameplay to the blockchain. Founded in 2021 by Mike Gordon, Stephanie Ramos, Mark Smith, Darren Briden, and Devin Passage, a team of gaming enthusiasts with collectively over 50 years of mobile gaming and development experience, Crypthulhu is defining a new category of gaming by leveraging web3. They’ve won awards, generated millions of installs and have a wealth of experience in game development across multiple different programming languages. Read the exclusive here!
