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Phil Hall
Phil Hall
Sep 3, 2022
News

Gabe Leydon Raises $200M for His New Web3 Gaming Venture, Limit Break

Gabriel Leydon, the founder and former CEO of Machine Zone, has raised $200 million for a new blockchain start-up called Limit Break.
Gabe Leydon Raises $200M for His New Web3 Gaming Venture, Limit Break

Gabriel Leydon, the founder and former CEO of Machine Zone, the mobile gaming studio behind Game of War and Mobile Strike, has raised $200 million for a new blockchain start-up called Limit Break. Gabriel left Machine Zone in 2018 to explore the Web3 domain and sold the company to AppLovin in 2018 for $600 million. Limit Break is a blockchain-based company focusing on free-to-play blockchain games by initially giving out free NFTs to players. The goal is to create a free-to-own game community that will attract fans by giving out free NFTs.

https://twitter.com/limitbreak/status/1564240941690798081

About Limit Break

Leydon teamed up with Machine Zone co-founder Halbert Nakagawa to create a new blockchain gaming company. The new company, Limit Break, will produce a “free-to-mint” and “free-to-own” game targeted to reduce the inconsistencies in the blockchain industry as game studios sell NFTs but fail to deliver quality games. 

Limit Break will reinvent the game industry by bringing free-to-own games in which players will essentially receive free NFTs, but they have to buy after that. This way, players will turn into best advocates for an upcoming game and help the company earn money.

https://twitter.com/gabrielleydon/status/1555183685527146497

Leydon and Nakagawa are pioneers of free-to-play gaming for founding Machine Zone, producing top gaming titles including Game of War, Mobile Strike, and Final Fantasy XV New Empire. However, according to Leydon, the free-to-play game era will end soon, and Limit Break will replace it. 

Last year, the funds for Limit Break were acquired from Buckley Ventures, FTX, Paradigm, Anthos Capital, SV Angel, Coinbase Ventures, and Standard Crypto. The company got its name from the “Limit Break” combat sequence popularized by RPG games such as the Final Fantasy series.

The company plans to generate income through other gaming features and by selling NFTs once fans start selling their NFTs on OpenSea. Some portion of these NFTs will be kept with the company itself. When a particular NFT price rises, the company can sell some of their own NFTs alongside those sold by fans. This will help in boosting the revenues of Limit Break.

Limit Break DigiDaigaku Genesis NFT Collection

“If you match free-to-play up against free-to-own, there’s no way for free-to-play to survive. I don’t see how anybody goes back to free-to-play after that. Free to play is download the game for free by a bunch of virtual items that you can’t own essentially. We’re completely reinventing the game industry.”

Gabriel Leydon

Limit Break’s first NFT collection

Recently Limit Break released its first NFT collection named DigiDaigaku Genesis. The DigiDaigaku NFT collection was released to the public free of charge. The collection included 2022 cute female anime characters with a floor price of 13 ETH each. The DigiDaigaku characters live in a mysterious world unknown to outsiders. These NFTs can be bought on the OpenSea marketplace. The price of this NFT rose to 15.67 ETH after its parent company raised $200 million.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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