Amazon's Twitch Co-Founder Kevin Lin Raises $24M For His Web 3.0 Gaming Firm Metatheory

Twitch co-founder Kevin Lin raised $24 million in a funding round for his Web 3.0 firm Metatheory. 

What Happened: Metatheory's funding round was led by Andreesen Horowitz with the participation of Pantera Capital, FTX Ventures, Dragonfly Capital and others, according to a Monday Decrypt report. 

“After stepping away from Twitch to explore what’s next in the industry, I truly believe blockchain will open the door to even more possibilities and have a major impact in the gaming, storytelling and community building space," Lin said.

See Also: What is Web 3.0?

Metatheory is developing a sci-fi franchise with two mini-games called DuskBreakers which uses non-fungible tokens (NFTs) to manage the ownership of in-game characters and is in the process of hiring a comic artist to adapt the intellectual property into a graphic novel. DuskBreakers' play-to-earn game is scheduled for release in the third quarter of this year.

Lin brought in former Twitch developer relations executive and engineer JT Gleason to be Metatheory’s chief technology officer and Jason Maestas also came long for the venture to be its vice president of community and marketing. Furthermore, Metatheory’s Content Chief Bernie Su and Narrative Designer Jen Enfield-Kane come from the Twitch exclusive interactive live-streamed show about artificial intelligence, Artificial Next.

Twitch, the videogame streaming platform, was acquired by Amazon.com, Inc. AMZN in 2014.

Photo: Courtesy Metatheory