Crypto Rogue Games Closes $1,5M Seed Round

Crypto Rogue Games Closes $1,5M Seed Round with Leading Game Investors such as Merit Circle & Avalanche

Swedish game studio receives investment from some of the leading VCs in web3 gaming.

Crypto Rogue Games is a studio in Umeå, Sweden developing upcoming hack ‘n’ slash action RPG Crystals of Naramunz.

Crypto Rogue Games has announced the successful closure of its $1,5m funding round. This included game-focused VCs such as Merit Circle and Avalanche, who strongly believe in the studio’s approach to pioneering the future of gaming with the help of web3 technology. The investment round will help accelerate and expand the development of Crypto Rogue Games’ upcoming hack ‘n’ slash Action RPG called Crystals of Naramunz. The investment aims to put the studio at the forefront of the next wave of game studios using blockchain technology as part of their tech stack.

Other participants in the round were SNZ, Coinfund, Lyrik Ventures, Devmons and Bryan Pellegrino, CEO and co-founder of Layer Zero.

“For a small studio in Umeå, Northern Sweden, it’s a monumental boost to have these international VCs on our cap table. They bring a wealth of knowledge and a strong global network benefitting our studio moving forward. Even more importantly they share our vision for how web3 should be used in games. This vision is coming to life in our upcoming hack ‘n’ slash ARPG Crystals of Naramunz which will be showcased at GDC this year.”

Crystals of Naramunz (CoN) is an upcoming free-to-play hack ‘n’ slash loot-driven action RPG set in a post-apocalyptic steampunk world centuries after a global disaster known as “The Nexus.” Players take on the role of different heroes and explore a world filled with ruins, dungeons and powerful relics. Inspired by Diablo and Path of Exile, Crystals of Naramunz offers an exciting gaming experience with high replayability due to its deep itemization, power progression, seasonal resets and multiplayer features. Currently in development, the Closed Beta is aimed for June this year.

“At Merit Circle Investments, we live and breathe quality game play. Crystals of Naramunz scored very high in our internal extensive playtests. The founders’ extensive experience in the realm of action role-playing games, coupled with their skills in crafting captivating gaming economies, perfectly matches the best use cases of blockchain gaming. We’re thrilled to be part of their adventure and can’t wait to see them reach millions of players!” – Steven Bryson-Haynes, Head of Investment & Partnership Merit Circle

With a game-first and player-centric approach, Crystals of Naramunz aims for a seamless and frictionless web3 experience that stays true to the player while providing added value, allowing players to craft items that can be traded in an open market, ultimately enabling true ownership of players’ hard-earned loot.

“The Avalanche gaming team partners with projects based on team quality, game design, and vision for web3 gaming. Crypto Rogue Games excels in all three areas. With their A-tier team and expertise (spanning from e-commerce to designing Path of Exile), Crystals of Naramunz promises to redefine web3 ARPGs. Its intuitive gameplay, accessible web3 elements, and engaging core loop make it a standout project. We’re thrilled to support Naramunz in shaping the future of web3 gaming.” – Parker Heath, Avalanche


Crypto Rogue Games is a game development studio founded in 2021 with offices in Umeå, Sweden and Tallinn, Estonia. The team has a track record of working on award-winning game titles such as Path of Exile, Stellaris, and Pillars of Eternity.

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