Estonian-Swedish gamedev studio Crypto Rogue Games raises $1.5M in seed funding

Umeå and Tallinn-based game development studio Crypto Rogue Games has raised $1.5 million in a seed funding round backed by Merit Circle and Avalanche. The investment will help to accelerate the game development process and establish the studio’s leading position in the gaming industry, ArcticStartup reports.

  • Founded in 2021, Crypto Rogue Games is a game development studio focusing on developing Web3 gaming experiences. The studio is currently working on the development of its next title Crystals of Naramunz, an action-packed hack‘n’slash RPG set in a post-apocalyptic steampunk universe.
  • Crystals of Naramunz (CoN) is a free-to-play experience set in a world centuries after a global disaster known as “The Nexus.” Players take on the role of different heroes and explore a world filled with ruins, dungeons, and powerful relics. The Closed Beta version will launch in June this year.

At Merit Circle Investments, we live and breathe quality gameplay. Crystals of Naramunz scored very high in our internal extensive playtests. The founders’ extensive experience in the realm of action role-playing games, coupled with their skills in crafting captivating gaming economies, perfectly matches the best use cases of blockchain gaming. We’re thrilled to be part of their adventure and can’t wait to see them reach millions of players,

Steven Bryson-Haynes, Head of Investment & Partnership in Merit Circle, comments.
  • Merit Circle, a decentralized autonomous gaming organization (Gaming DAO), and Avalanche, a Singapore-based company that provides smart contracts platform for Web3 developers, backed the current round. 
  • Other prominent investors such as SNZ, Coinfund, Lyrik Ventures, Devmons, and Bryan Pellegrino, CEO and co-founder of Layer Zero, also participated.

Crypto Rogue plans to use the fresh capital to expedite the game development process and establish the studio as a leader in blockchain technology within the gaming industry.