Argus Labs Raises $10 Million In Seed Round Led By Haun Ventures

Key Points:

• Haun Ventures, a cryptocurrency investment company, sponsored the $10 million seed round for Web3 game studio Argus.
• Robot Ventures, Anagram, and Dispersion Capital also participated in the financing.
• Argus is also introducing the World Engine, a blockchain-gaming SDK that will let developers construct their own Web3 game environments.

Argus Labs, a cryptocurrency game company, has secured $10 million in initial investment headed by Haun Ventures, with Robot Ventures, Anagram, Dispersion Capital, and Alchemy also investing.

Meanwhile, Argus introduced the World Engine, a new blockchain-based software development kit aimed to assist other developers in creating and customizing interoperable gaming worlds.

Thrilled to announce our $10M seed round led by @HaunVentures with participation from prominent funds, strategic investors, and angels, including @AlchemyPlatform @robotventures @eladgil @balajis, @cjliu49, @blader, and other to push the envelope of fully onchain games. pic.twitter.com/8DaZmYmzkU

— ARGUS ◢ ✦ ◣ (@ArgusLabs_) June 6, 2023

World Engine will allow game creators to build their own specialized layer-2 blockchain networks on Ethereum using zero-knowledge proofs (ZKP). Developers may modify their chains and specify precisely how long their game will be “on-chain.”

Zero-knowledge proofs validate zk-Rollup transactions, a cryptographic breakthrough that enables multiple transactions to be performed concurrently to help scale networks and provide transaction privacy.

Scott Sunarto, Argus Labs’ CEO and founder, is just 22 years old. Nevertheless, unlike most people in their early twenties, he suddenly has access to a $10 million pot. With the fresh funds, Argus Labs intends to launch World Engine before focusing on a game that it is creating and hopes to release later this year.

Sunarto, who previously designed the game Dark Forest as a teenager, said in a blog post published today that although online games were born from the internet, they are walled, blocked off from the tremendous possibilities of a linked world. According to today’s statement, he sees World Engine as a solution.

Katie Haun, a former Andreessen Horowitz general partner, launched Haun Ventures, which secured $1.5 billion for two crypto investment funds in early 2022, most of which has yet to be deployed.

Haun’s newest investment is in Argus, as the freshly founded business continues to distribute $1.5 billion across crypto startups despite regulatory uncertainties in the US and the SEC’s recent targeting on the main exchanges.

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