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Web3 gaming company Heroic Story has raised £5 million in a seed round led by Upfront Ventures for a blockchain-based tabletop roleplaying game (RPG).

The funding will be used to launch a live beta of the game, develop blockchain technology for a multiplayer version of the game, and hire more talent.

Other participants in the round included Multicoin Capital and Polygon Technology, along with strategic angels such as Team Liquid CEO Steve Arhancet and Quantstamp CEO Richard Ma.

The round brings Heroic Story’s total funding to £6.2 million.

Mark Suster, managing partner at Upfront Ventures, said: “We fell in love with the vision for Heroic Story because they are building authentic online RPG experiences for large, global audiences passionate about the tabletop RPG genre.”

Past investors in the gaming company have included the co-founder of streaming platform Twitch, Kevin Lin, and the CEO of Thirdweb, Furqan Rydhan.

Heroic Story was founded in 2019 and develops multiplayer iterations of popular tabletop RPGs, or TTRPGs. It strives to combine storytelling with blockchain tech to create immersive experiences for players.

Jay Rosenkrantz, CEO at Heroic Story, said: “The intersection of storytelling and technology has been the theme of my career, from my early years as a top online poker pro and entrepreneur, to designing and directing one of the first adventure games for consumer VR.”

“Smart contract powered platforms will transform gaming, storytelling, and community building,” he added.

The company released its first gaming franchise, Legends of Fortunata, in 2021. The immersive experience claims to “eliminate the pain points of playing traditional tabletop games online, with no stress scheduling and an exciting virtual rewards system designed to broaden the reach and appeal of TTRPG to new audiences”.