A number of firms have increased production in the past year with the hope of changing the industry. London-based gaming firm Cauldron plans on becoming the "Pixar of web3" through a key element: telling stories.
According to Mark Warrick, founder and CEO of the company, the company just closed a $6 million seed round and will launch its first web3 gaming world in the fall.
Warrick said that people aren't coming back because there isn't a reason to. If you close your eyes and listen to a Pixar film, the story is still gripping you. What matters is how storytellers tell their stories.
Warrick founded the gaming studio with Fox Rogers and Matt Hyde. Science fiction and fantasy authors have been hired by the company.
Warrick said that web3 is about ownership of assets. Existing entertainment can't translate to that if you don't design around owning a part of a universe.
Two of the gaming worlds are fantasy and one is science fiction, according to Warrick.
Warrick said that they focus on Pixar because they created a recipe with "Toy Story" and never had a bad experience. We would like to create a recipe with Project Nightshade and make many worlds. I would love to have three worlds that are loved by millions of people in a decade.
The round was led by Cherry and closed six months after its pre-seed round of more than one million dollars. He wouldn't give a valuation.
Imagine if you will, an empty world where we land those characters in there and you can define those origin stories, villains, heroes and watch it evolve into your own version of 'Star Wars' and'Game of Throne'.
Warrick said that the capital would be used to hire talent from the game and film industries.
Making our virtual worlds more accessible to people is our focus. "We couldn't think of a better way to do it than through the web3 space because people really feel the sense of wanting to own things on the internet and owning a bit of a world." There is a chance for people to do that with new intellectual property.
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