Virtual reality (VR) and Web3 game development and distribution studio, Thirdverse, has secured $15m (£12.47m) in capital through a third-party funding round with MZ Web3 Fund as the lead investor. The latest round brings the total amount of funding for the company to $33m. Thirdverse said it will use the funds to continue to strengthen its global recruitment of game creators and other professionals, and to continue development of new Web3 and VR titles.

The company plans to release more than 10 Web3 games through 2023, and is currently recruiting more game developers to expand the development line.

“We are thrilled to form a partnership with MZ Web3 Fund for the future growth of our team and investments in Web3 and VR,” said Thirdverse CEO, Hironao Kunimitsu. “After significant growth in the past year, and with many projects in development and about to start development, we're proud to enter a new stage of more accelerated growth for Thirdverse. While this may be a challenging climate for raising funding, we've been quite successful, and we're very appreciative for the support of our newest investors who joined this round in these times. I believe it speaks to the excitement of our team and our partners for how we will push the boundaries of what we can create on these platforms. I'm confident that we're creating games that will be loved by many audiences and that it's critical for the future of this industry."

Investors in Thirdverse includes 8DAO, B Dash Ventures, Double Jump.Tokyo, Fenbushi Capital, Flick Shot, Holdem Capital, Kusabi, MZ Web3 fund, OKCoinJapan, OKX Ventures and Yield Guild Games.