Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Hong Kong, Hong Kong, November 25th, 2024, Chainwire

Web3 game studio Qooverse has secured pre-seed funding in a round led by VC firm Paper Ventures, followed by Animoca Brands, Merit Circle, and notable angels in the industry. Founded by a creative team whose professional background includes time at Tencent and Goldman Sachs, Qooverse is developing an ecosystem of mid-core and casual social games that are distributed on Telegram and more social platforms to come.

The portfolio of games revolves around the IP Qoomon, cute yet formidable creatures in an Oriental style. The games are fast-paced with an average game lasting less than 5 minutes. They are also highly social with an emphasis on PvP (Player vs Player). The flagship game Qoomon Fuse has successfully attracted a few hundred thousand players organically within a month.

“Many existing Telegram games have failed to capitalize on the power of social networks and players are unable to socialize over games with the current grinding meta,” said the studio co-founder Kyle. “With Qoomon Fuse we have successfully onboarded mass gamers via viral sharing, thanks to the unique blend of hyper-casual, social and competitive elements on Telegram. We look forward to replicating this success with our new game titles.”

Paper Ventures GP Oliver Blakey commented on his company’s investment, saying “Qooverse is the sort of innovative, value-driven project we aim to support. The team’s vast experience and fresh perspective on competitive social games positioned them as a compelling proposition. We’re very excited to see how the team will redefine gaming dynamics in the Web3 space going forward.”

Qooverse also views the omni-channel distribution as a great opportunity. The team has been distributing the games as Telegram mini-app with the next avenues being Line mini-app and Discord embedded app.

Qooverse is now looking ahead to a busy year end of 2024 that will include the launch of new game modes such as tournaments and enhancement in crypto onboarding. The next milestone will be the official launch of the game centre encompassing all the game titles, which will coincide with a Token Generation Event (TGE) in early 2025.

About Qooverse

Qooverse is a Web3 game studio founded by veterans from Tencent and Goldman Sachs. Qooverse's mission is to redefine how the world engages with social gaming, leveraging the power of blockchain and in-depth embedment in social media platforms to bring forth a gamified social experience.

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