Tuesday, October 4, 2022

Fast Break Labs Raises $6M in a Seed Round to Build the First Basketball Manager Game

Fast Break Labs in its quest to establish a uniquely fun event for basketball enthusiasts all over the world has announced the closing of a $6 million seed round to build a Virtual Basketball Association (VBA). The New Web3 startup fundraising round was led by early-stage venture firm Patron and Blockchain-focused manager Pantera Capital.

Several notable investors also participated in the fundraise, some of which are Solana Ventures, South Park Commons, Soma Capital, and Collab+Currency. The round also saw interest from some National Basketball Association club owners including Joe Tsai (Brooklyn Nets), Marc Merill (Co-founder of Riot Games), Thomas Vu (Head of Creative at Riot Games), Jason Choi (GP at Spartan Group), and Wengie Huang (Co-founder of Nyan Heroes), amongst others.

Fast Break Labs is a web3 startup directed at establishing player-owned games for the metaverse.

The firm was established at the end of 2021 by Charles Du and John Wu who are both basketball enthusiasts. Their goal is to empower people and communities through play thereby reshaping how they live, work, and do much more. It is also at its seed-stage, venture-backed (backed by top gaming, Crypto, and sports investors) startup and focuses on building blockchain-based games and experiences.

VBA happens to be the first web3 basketball manager game. Here, gamers will put together teams of athletes that will compete in imitation games, tournaments, and leagues as well as win real rewards. This will proffer chances to learn and grow incredibly quickly to transform the gaming industry.

Brian Cho, Co-founder, and partner at Patron is certain that the Fast Break Team will produce an exceptional experience that will captivate players and partakers of the space because of their intense enthusiasm for web3 and basketball. He further noted that the combination of crypto, games, and sports will afford the space lots of potential.

General Managers (GMs) of VBA will have access to build the team of their dreams, stack roasters, set perfect lineups, as well as follow all the play-by-play action. They will also be able to give their players a name, backstory, and Identity; creating and choosing their logo, colors, etc.

With the funding of, VBA which is set to kick off in May with its first player packs dropping in March, users are in for thrilling experiences. The number of blockchain-based startups that have received venture funding has enormously increased this year. Corite remains amongst the startups that have immensely profited from fundraising, and this is one of the several of which have been documented by Cryptomarketbeat.

Joyce Onose
A Blockchain enthusiast and growing writer in the space with an understanding of the importance in creating quality content for readers in the industry. Also, keen on using her skills in improving Blockchain journalism.

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