Fortnite creator, epic games, participated in Series A funding for metaverse infrastructure developer Hadean, raising a total of $30 million. Other groups such as 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First and InQTel also participated in the financing round. The financing round was led by a European investment company, Molten Ventures.
Founded in 2015, Hadean is a London-based company. The company plans to use the money to build its metaverse virtual infrastructure technology. Hadean wants to get the additional computing power needed to expand the scope of metaverse initiatives.
Hadean co-founder and CEO Craig Beddis stated:,
“Today’s virtual worlds are a limited experience – small-scale, isolated and insecure. That is why these are the technical challenges we are taking on today.”
In addition, Beddis believes that the success and adoption of the metaverse depend on the ease with which creators can build their vision.
Marc Petit, vice president of Epic’s Unreal Engine Ecosystem, said that “Hadean’s computing power will provide the infrastructure needed to create a scalable metaverse.”
Petit further stated,
“The company’s technology complements Epic’s Unreal Engine by enabling massive amounts of concurrent users and unlocking new tools for creators and developers.”
Unreal Engine is Epic Games’ photorealistic 3D creation tool. It is the tool that made the world famous Fortnite game possible.
metaverse initiatives take center stage not only in gambling companies, but also in other industries. Finance and banks have also started their foray into the digital space.
In 2019, Hadean teamed up with video game maker CCP Games, best known for the popular game EVE Online. The partnership was intended to increase the number of concurrent players in one virtual environment. The partnership resulted in 14,000 gamers playing together at the same time. In addition, the demo is built using Epic’s Unreal Engine.
Hadean has created key elements of the metaverse and signed multi-year contracts in the entertainment industry. The new funding round will accelerate Hadean’s ability to provide creators with the tools they need to transform every element of the way they work, create, buy and consume in new and evolving metaverse markets.