Swedish game studio Cold River Games has closed a USD 2 million investment round with Beam Investments, Partnerinvest Norr, CoinFund, Avalanche Foundation and A100X. Cold River has thus secured funding for the game Crystalfall.
Crystalfall is scheduled to launch towards the end of 2025. Crystalfall is a free Action Role-Playing Game (ARPG). With a focus on loot and item progression, Cold River Games has looked at how blockchain technology can create value for ARPG players.
“We are incredibly grateful to have such strong partners who support our studio and believe in our vision for Crystalfall,” said Åke André, CEO of Cold River Games, in a press release.
Cold River Games (CRG) is a game development studio founded in 2021 by CEO Åke André and Creative Director Daniil Sanders, based in Umeå, Sweden. The team has a track record of working on award-winning game titles such as Path of Exile, Stellaris, and Pillars of Eternity. With a focus on item progression and theorycrafting, their upcoming game Crystalfall is an old school ARPG set in a steampunk world where you play as mutated hybrids wielding steampunk weapons.
“Crystalfall is not just a new ARPG,” says Parker Heath, Gaming Lead at the Avalanche Foundation, “it's a bold bet on where the future of gaming is headed. The Cold River Games team has the experience, vision and execution ability to break through not only in web3, but throughout the gaming industry. At Avalanche, we support developers who raise the bar, and this team does just that.”
The investors in this round are besides Avalance Foundation, Beam Investments, Partnerinvest Norr, CoinFund and A100X. In previous rounds, CRG has received support from Lyrik Ventures, MH Ventures and SNZ, who are still rooting for the development team.
“While our main priority has always been to make a fun game, maintaining a secure game economy is an important part of a game,” says André. He further explains that blockchain technology can be a solution that not only allows an open ecosystem run by the players, but also protects the individual player. “While this technology is not suitable for all types of games, we believe it has a place in ARPGs where it can strengthen the switching economy.”
With the advent of blockchain, items become traceable, reducing the risk of fraud and duplication, while giving the items a history as they change owners between players. Cold River Games has focused on removing user friction and optimizing the user experience so that the blockchain does not interfere with the regular gaming experience.
Swedish game studio Cold River Games has closed a USD 2 million investment round with Beam Investments, Partnerinvest Norr, CoinFund, Avalanche Foundation and A100X. Cold River has thus secured funding for the game Crystalfall.
Crystalfall is scheduled to launch towards the end of 2025. Crystalfall is a free Action Role-Playing Game (ARPG). With a focus on loot and item progression, Cold River Games has looked at how blockchain technology can create value for ARPG players.
“We are incredibly grateful to have such strong partners who support our studio and believe in our vision for Crystalfall,” said Åke André, CEO of Cold River Games, in a press release.
Cold River Games (CRG) is a game development studio founded in 2021 by CEO Åke André and Creative Director Daniil Sanders, based in Umeå, Sweden. The team has a track record of working on award-winning game titles such as Path of Exile, Stellaris, and Pillars of Eternity. With a focus on item progression and theorycrafting, their upcoming game Crystalfall is an old school ARPG set in a steampunk world where you play as mutated hybrids wielding steampunk weapons.
“Crystalfall is not just a new ARPG,” says Parker Heath, Gaming Lead at the Avalanche Foundation, “it's a bold bet on where the future of gaming is headed. The Cold River Games team has the experience, vision and execution ability to break through not only in web3, but throughout the gaming industry. At Avalanche, we support developers who raise the bar, and this team does just that.”
The investors in this round are besides Avalance Foundation, Beam Investments, Partnerinvest Norr, CoinFund and A100X. In previous rounds, CRG has received support from Lyrik Ventures, MH Ventures and SNZ, who are still rooting for the development team.
“While our main priority has always been to make a fun game, maintaining a secure game economy is an important part of a game,” says André. He further explains that blockchain technology can be a solution that not only allows an open ecosystem run by the players, but also protects the individual player. “While this technology is not suitable for all types of games, we believe it has a place in ARPGs where it can strengthen the switching economy.”
With the advent of blockchain, items become traceable, reducing the risk of fraud and duplication, while giving the items a history as they change owners between players. Cold River Games has focused on removing user friction and optimizing the user experience so that the blockchain does not interfere with the regular gaming experience.
