Kleiner Perkins, Galaxy Invest in EOS Blockchain-Based Gaming Startup

Azarus, a blockchain game developer, raised $1.8 million from several crypto VC funds including Galaxy Digital (via its Galaxy EOS VC Fund), Kleiner Perkins and SVK Crypto.

The money will fund Azarus’ efforts to build out its game network “smart challenge,” a proprietary Twitch plug-in built on the EOS blockchain, which allows users to compete for digital assets through competitive gaming challenges.

The platform operates by inviting Twitch streamers and their fans to participate in games based around streaming data. Winners are rewarded with tokens that can be redeemed for in-game items, currencies, and other digital assets in the Azarus marketplace.

Additionally, a pilot program will allow select streamers to award tokens to their viewers for correctly answering questions about their streams. Every challenge is notarized on the blockchain, including the data used to execute and resolve it.

“Azarus’ implementation of blockchain tech and the EOSIO protocol is precisely what we look to invest in from the Galaxy EOS VC Fund: a scalable and consumer-friendly gaming platform that demonstrates the promise of blockchain technology,” said Sam Englebardt, co-founder of Galaxy Digital, in a statement. “We have tremendous confidence in the team’s vision and ability to execute.”

Launched in late 2018, the Azarus “smart challenge” platform only operates works with Rainbow 6 Siege streams, with plans to expand to other games.

Gamer image via Shutterstock