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How Sipher won high-profile VCs’ hearts even before its blockchain games hit the market


The Sipher group

As passionate players, their imaginative and prescient was to create a high-quality and action-packed blockchain sport. They wished to assume past the idle, farming, clicker, turn-based video games obtainable available in the market that got here with no correct graphics and animation and even music and sound.

“We have been decided that our video games needs to be what they’re really meant to be — enjoyable. So, we got here up with a marketing strategy and introduced it to a number of regional buyers. We have been fortunate that all of them shared the identical opinion and even really useful us to massive buyers within the west. The remainder is historical past,” recounts Tin Nguyen.

With the boldness gained from their assembly with the buyers, Nguyen and the group went on to start out Sipher.

A blockchain gaming studio based mostly in Vietnam, Sipher goals to supply compelling gaming experiences. Right here, gamers management avatars to work together with one another by means of PvE (participant vs setting) co-operative dungeons and battle one another in PvP (participant vs participant) multiplayer battle arenas, participating with the digital world, battling for digital lands, and incomes objects and rewards.

Sipher’s founders come from various backgrounds. Nguyen is the CEO of Trung Thuy, a real-estate agency in Vietnam and on the Vietnam Forbes 30 Below 30 listing of 2015. His associate Loi Luu is CEO and Co-Founding father of Kyber Community. This on-chain liquidity protocol powers decentralised purposes, together with exchanges, funds, lending protocols, and funds wallets.

The third co-founder is Victor Tran, CTO and Co-Founding father of Kyber Community. Tran has been concerned in blockchain and cryptocurrency improvement since early 2016.

Additionally Learn: Sipher closes US$6.8M seed spherical to develop metaverse sport World of Sipheria

Not like most blockchain video games obtainable available in the market, the Sipher group not solely goals to onboard the crypto- and NFT-savvy crowd however to introduce Sipher to the normal gaming group to play a enjoyable sport worthy of e-sports.

“We’re within the technique of growing and onboarding experiences for the normal gaming market to make it as clean as potential. Consider it as mixing web2 practices with web3 applied sciences,” says Nguyen.

As Nguyen talked about, Sipher’s video games are but to hit the market. As soon as they’re launched, the corporate will introduce SIPHER because the governance tokens, which can be utilized for staking, cloning new characters, and crafting new uncommon gear. Customers may even have a share of {the marketplace} charges and voting rights on future selections of the sport improvement group.

ATHER would be the reward token, which can be burnt to degree up characters, expertise, gear and different in-game objects and options.

“We plan to focus on the worldwide markets with our video games titles. We don’t wish to assault the markets equivalent to Southeast Asia, which have taken the blockchain gaming business mainstream. We purpose for worldwide adoption,” Sipher CEO Nguyen tells e27.

Sipher Founder and CEO Tin Nguyen

Though Sipher’s video games will not be launched but, its group has grown with 108,000 followers on Twitter and 163,000 members on Discord.

Final October, Sipher closed a US$6.8 million seed financing spherical, co-led by Arrington Capital, Hashed and Konvoy Ventures. Defiance Capital, Signum Capital, Dragonfly Capital, CMT Digital, BITKRAFT Ventures, Delphi Digital, Alameda Analysis, Fenbushi Capital, Sfermion, Hyperchain, GBV, Kyber Community, Coin98 Ventures, YGG and Benefit Circle, additionally joined the spherical.

Angels, together with Holly Liu (Kabam), Kun Gao (Crunchy Roll) and Alex Svanevik (Nansen.ai), additionally co-invested.

The capital is getting used to develop its upcoming ‘World of Sipheria’ sport.

The gaming startup is now in search of a follow-on spherical. The aim is to onboard strategic companions that would assist Sipher develop additional. “We are going to prioritise buyers with a very good popularity and companions, who assist us conquer new rising markets outdoors of SEA like Latin America, Africa and India,” he remarks.

Based on Nguyen, Southeast Asia is main the cost towards the way forward for blockchain gaming. Vietnam, particularly, is constantly growing very progressive and cutting-edge expertise. The area will proceed to be a pacesetter on this house.

Additionally Learn: Metaverse is across the nook and you need to play a job in it

Though the blockchain/metaverse gaming business remains to be in its early levels within the area, its vulnerabilities have began manifesting.

The latest Axie Infinity hacking incident is a working example. The hackers stole about US$615 million in USDC and ethereum from the metaverse sport’s Ronin Community. As per media reviews, the FBI and the US Division Of the Treasury investigation have came upon that Lazarus Group, a hacking organisation based mostly in North Korea, was behind this assault.

Nguyn feels that the very best precedence needs to be given to cyber safety to forestall such potential occasions sooner or later. “To forestall hacks and exploits affecting the customers ought to all the time be our precedence. Because of our connections at Sipher, we’re consulting consultants with expertise offering cyber safety companies for the US Nationwide Protection,” he concluded.

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Picture Credit score: Sipher

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