Business News Report SMW
March 24, 2023

Hadean to Lead Metaverse & Gaming Initiatives as Mythos Foundation Subcommittee Chair; Raises Additional $5M in Funding

In Brief

Hadean has been selected as one of five subcommittee chairs of the Mythos Foundation.

The company will lead the Foundation’s metaverse and gaming initiative.

Hadean has raised $5 million in additional funding following a $30 million Series A round.

Metaverse infrastructure provider and tech startup Hadean has joined the Mythos Foundation – the initiative aimed at decentralizing and promoting web3 gaming and esports projects – as one of five subcommittee chairs. The company will lead funding and development for metaverse technologies and prototypes and help reduce barriers to entry for game developers.

As subcommittee chair, Hadean will collaborate with Mythical Games and other members of the Mythos Foundation to accelerate the development of cross-chain infrastructure. According to a press release, this infrastructure will enable the seamless integration of gaming communities and actual interoperability across virtual worlds.

“At the core of the Mythos Foundation is the belief that the next iteration of video games will be democratized to allow developers and players to actively participate in-game economies through the Mythos ecosystem. With their heavy focus on delivering metaverse network technology, Hadean is championing this cause by providing the next generation of virtual worlds,” said John Linden, Mythical Games CEO.

Elected by token holders of the Mythos Token (MYTH), Hadean will serve a one-year term.

This news comes on the heels of Hadean’s fundraising of an additional $5 million announced on Thursday. The funding came from new web3, gaming, and enterprise global investors, such as Ericsson Ventures, Metrea Discovery, VU Venture Partners, Sanctor Capital, and Tirta Ventures.

The new funding follows the company’s $30 million Series A round, completed in September 2022, which was led by Molten Ventures and joined by Epic Games, 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First, and InQTel.

With the new injection of capital, Hadean aims to continue providing the technical toolset that is required for building, running and monetizing scalable, interoperable and secure digital environments.

“Our objective is to bridge physical and virtual worlds to improve decision-making, support the creator economy and, ultimately, enhance the quality of life in the real world. We believe that the metaverse’s true success and widespread adoption depend on the creators’ ability to build their own experiences at scale, using open and robust metaverse-as-a-service technologies,”

Hadean CEO, Craig Beddis, said in a statement.

Founded in 2015, Hadean provides the infrastructure, computational power, and web3 technology that allows organizations to build, run and monetize immersive virtual environments and experiences.

Hadean’s technology has been used to power large-scale applications, including the EVE Online Aether Wars space battle event in 2020, in partnership with game developers CCP Games

In addition, Hadean has also partnered with CAE, the training and simulation specialists, to create a digital replica of Estonia that was the size of a city. Most recently, Hadean extended its partnership with Pixelmax to develop the infrastructure for content streaming in the metaverse.

Read more:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

More articles
Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Alchemy Pay Teams Up With BounceBit To Support Bitcoin Restaking Ecosystem
Business News Report Technology
Alchemy Pay Teams Up With BounceBit To Support Bitcoin Restaking Ecosystem
May 17, 2024
Magic Square Unveils IDO Platform Magic Launchpad To Democratize Retail Access For Web3 Investors
Business Markets News Report
Magic Square Unveils IDO Platform Magic Launchpad To Democratize Retail Access For Web3 Investors
May 17, 2024
Binance Partners with Taiwanese Authorities to Unveil Massive $6 Million Crypto Money Laundering
Opinion Business Markets Software Technology
Binance Partners with Taiwanese Authorities to Unveil Massive $6 Million Crypto Money Laundering
May 17, 2024
How to Understand the Value of Crypto Tokens?
Crypto Wiki Opinion Business Education Software Technology
How to Understand the Value of Crypto Tokens?
May 17, 2024