Big Time Studios launches $150M Open Loot Fund for Web3 gaming
Big Time Studios makes the Big Time action RPG.
Image Credit: Big Time Studios
Big Time Studios announces a $150 million Open Loot Fund to propel Web3 gaming on the Open Loot platform.
Big Time Studios wants to empower game studios leveraging the Open Loot platform. This fund provides financial backing, marketing expertise, and development support to enable studios to create high-quality crypto games.
Open Loot is a distribution platform that enables game studios to reach an established audience of 1.5 million registered players.
With its software development kit (SDK), studios can mint and distribute crypto assets, enriching gameplay with unique digital collectibles and currencies. Open Loot also features the $OL token, fostering community growth by rewarding players and developers. The platform has recently facilitated nearly half a billion dollars in transaction volume.
Inspired by the success of its flagship game, the action role-playing game Big Time, the company is reinvesting $150 million to support professional studios and nurture the next wave of games. The company said it is committed to helping third-party studios avoid the common pitfalls that have hindered others in the industry.
In the early days of Web3 gaming, many developers prioritized blockchain integration over gameplay, often resulting in a fragmented player experience. Big Time Studios said the emphasis on non-fungible tokens (NFTs) and crypto economies sometimes came at the expense of creating compelling games.
Fortunately, the industry has evolved, Big Time Studios said. Developers are now focusing on crafting engaging gameplay first and seamlessly integrating blockchain technology to enhance the overall experience. This balanced approach has led to more vibrant gaming communities.
The $150 million Open Loot Fund champions this evolved approach to game development. By offering financial support and much-needed advisory, the fund enables developers to prioritize great gameplay while ensuring that blockchain elements complement the player experience. Additionally, the fund provides strategic guidance in-game economy design, sales strategy, marketplace optimization, marketing, and community building, the company said.
This initiative promotes the creation of high-quality games and aligns with the industry’s shift toward prioritizing user engagement and satisfaction. By fostering innovation and player-first design, we aim to shape the future of Web3 gaming.
Game studios interested in joining the Open Loot ecosystem and benefiting from the $150 million fund are encouraged to visit the funding application.
Ari Meilich, founder of Big Time Studios, said in an email to GamesBeat that the fund hasn’t deployed any capital yet.
“We did invest previously in all Open Loot games you see on Open Loot: A total of $10 million collectively but that is not part of the $150 million fund,” Meilich said.
Open Loot platform manages all foundational elements, overseeing the sales and leasing of digital and traditional items for Big Time, the free-to-play multiplayer action RPG, and five pioneering launch partners, each curating distinct Web3 gaming experiences.
In addition to Big Time, it also has an action multiplayer RPG World Shards; an expansive sandbox MMORPG Boss Fighters; a multiplayer action title The Desolation; an immersive cross-platform loot shooter ShatterPoint and an adrenaline-fueled F2P action mobile RPG One Tap. The company’s top countries for players are the U.S., China, Brazil and Turkey.
Big Time Studios started in 2020, and it raised $10.3 million in 2021 and it raised an additional $11 million to invest in tech. In November 2021, the company sold more than $70 million worth of NFTs. It launched early access for Big Time in April 2022, and in October 2023, it launched the game’s economy. In November 2024, the company held the $OL token launch. In 2024, the company reached $443.3 million in total marketplace volume, with 1.4 million unique platform users and 1.98 million digital collectibles sold.
