Gaming infrastructure developer Param Labs raised $7 million worth of funds in a “significantly oversubscribed” investment round.The modular gaming ecosystem’s $7 million round was led by crypto venture capital (VC) firm Animoca Brands, with participation from investment firms including Delphi Ventures, Cypher Capital, P2 Ventures (formerly Polygon Ventures), Mechanism Capital, Merit Circle, TRGC Capital, Double Peak Group, and MH Ventures.The funding will be used to address one of the most pressing shortcomings of Web3 gaming — the lack of underlying infrastructure. Modular gaming ecosystems like Param will be crucial for laying the groundwork for the next generation of Web3 games, according to Anthony Anderson, CEO of Param Labs and Kiraverse.Anderson told Cointelegraph:The funding round precedes significant growth for the Param Gaming Platform, which recently surpassed 300,000 daily active users. The protocol’s X page also surpassed the 2.5 million follower mark before the investment round.Animoca Labs co-founder Yat Siu and Face Clan founder Banks also made strategic investments in the protocol. According to Yat Siu, Param Labs could help materialize the vision of a truly open metaverse. Siu wrote:Related: Binance develops ‘antidote’ to address poisoning scams after $68M exploitWeb3 gaming needs infrastructure for mainstream adoption The lack of Web3 gaming infrastructure makes blockchain integrations difficult for developers, which is among the biggest challenges for mainstream adoption, according to Anderson:The lack of blockchain gaming infrastructure became even more apparent this week after Wanderers game founder Nick Greenawalt shared a game preview in a May 15 X post, ironically dubbing it “the future of gaming.”The video shows gameplay pausing every few seconds as a MetaMask wallet prompt pops up to record every single shot on-chain. While the video was perceived as a satirical post, not a true preview, it illustrates the need for seamless gaming infrastructure.this is the future of gaming – every shot is on chain pic.twitter.com/eFavYC0t4DTo achieve true mainstream adoption, Web3 games need to organically incorporate crypto assets and Web3 technology without any disturbing friction points, according to Param Labs’ Anderson:Related: Crypto trader turns $3K into $46M in one month as PEPE price soars
