Los Angeles-based Lucid Sight now has $11 million in funding to expand offerings of its digital ownership games company by bridging the gap between blockchain and traditional gaming.
Leading investment bank and wealth management firm Salem Partners participated in the new funding round, as well as crypto and blockchain venture capital funds such as Digital Currency Group and the Galaxy EOS VC Fund.
According to the report, the company will use the investment to launch Scarcity Engine, a software developer tool that is designed to introduce Lucid Sight’s blockchain-powered games on gaming platforms such as consoles, PCs and mobile devices. The tool is scheduled to be launched later in 2019, the report notes.
Specifically, Lucid Sight intends to bring Major League Baseball (MLB) and Crypto Space Commander (CSC) blockchain games to traditional gaming platforms, while also maintaining the benefits of digital scarcity provided by blockchain tech, the firm’s CEO Randy Saaf said in the statement.
MLB Champions is a digital collecting game released during the 2018 MLB season where players can buy collectibles that earn rewards as real life baseball games are played. The new season of the game is planned for the 2019 MLB season.
Recently, blockchain startup Animoca Brands announced it had signed a global licensing agreement with Formula 1® to publish a blockchain game based on the racing series.
South Korean blockchain identity startup Metadium previously announced the release of its Software Development Kit on leading game engine Unity’s Asset Store.