Taiwan's Red Door Digital Raises $5M to Build AAA-Games for Web 3

Taiwan-based gaming firm Red Door Digital (RDD) has closed a $5 million seed round to build high quality games for the emerging Web 3 ecosystem.

• The firm received the seed funding from M6, Shima Capital, Maven Capital, Cryptology Asset Group, and LucidBlue Ventures.
• In a previous interview with CoinDesk, See Wan Toong, the CTO of RDD, said that gaming is suffering from a creative drought and GameFi can fix this. Toong thinks that Web 3 gaming is close to its ‘Flappy Bird’ moment, where the game going viral comes before quality.
• RDD said it will use the funds to build out the studio’s proprietary game theory models, which its says “drive the scalability and sustainability of the in-game economy”.
• The studio says it eventually wants to license its infrastructure to other developers to act as an onramp for Web 3.
• “Web 3 and the metaverse might be buzzwords right now, but more immersive online interactions is the undeniable trajectory for gaming, and we want to make games that bring mainstream gamers onboard,” its CEO, Joseph Derflinger told CoinDesk.
• Red Door Digital currently has three titles under development, with the first, Reign of Terror, set for release in the summer of 2022.