Former Tron Exec Launches Play-to-Earn ‘Mafia’ Game With Twitch Co-Founder’s Backing

The free-to-play “Syn City” is backed by some of the Web 3 gaming industry’s biggest investors.

AccessTimeIconNov 22, 2021 at 4:30 p.m. UTC
Updated May 11, 2023 at 7:03 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Syn City,” a play-to-earn mafia game founded by Tron Foundation’s former head of business, Roy Liu, announced an $8 million funding round on Monday.

The round was led by Twitch co-founder Justin Kan and Goat Capital, with additional backing from A&T Capital, Hack VC, Animoca Brands and Spartan Group.

  • Earn Alliance CEO on Helping Gamers Discover Web3
    17:22
    Earn Alliance CEO on Helping Gamers Discover Web3
  • Web3 Gaming Market Still Growing in 2023: Game7 Data
    01:21
    Web3 Gaming Market Still Growing in 2023: Game7 Data
  • State of Web3 Gaming in 2023
    08:11
    State of Web3 Gaming in 2023
  • Saudi Arabia's NEOM Is Working to Build the 'City of the Future' With Blockchain, Web3: Yat Siu
    11:34
    Saudi Arabia's NEOM Is Working to Build the 'City of the Future' With Blockchain, Web3: Yat Siu
  • The game joins the growing list of free-to-play titles entering the play-to-earn space, prioritizing accessibility as Web 3 gaming makes a push for mainstream adoption.

    Syn City will center its planned “Mafia Metaverse” around a surfeit of blockchain-based integrations, including a governance system, decentralized finance (DeFi) staking and its own non-fungible token (NFT) marketplace.

    The game’s governance system, called “Mafia-as-a-DAO,” or MaaD, incentivizes players to form “mafia syndicates,” playing in groups that can face off against each other and enter tournaments.

    The game’s development team includes veterans from Disney, Ubisoft, Roblox, EA and Gameloft, according to a press release.

    “We think the metaverse that Syn City is building is super exciting,” Goat Capital General Partner Robin Chan said in a press release. “When I was GM of Asia at Zynga, we witnessed the global phenomenon of Mafia Wars which influenced the whole generation. Syn City is here to lead the paradigm shift of the mafia metaverse.”

    Angel investors including Terra’s Do Kwon and CoinList’s Paul Menchov also participated in the funding round.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eli Tan

    Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about