AO Labs, the virtual gaming studio, has announced that it’s successfully raised $4.5 million in a new seed funding round for Spacebar – it’s very first blockchain game. The investment round was led by Yield Guild Games, along with an extensive list of other investors and players within the web 3 and crypto space.

Some of the individual investors included YGG CEO Gabby Dizon, Jeff Zirlin of Sky Mavis, Kyu Lee of Com2uS and Polygon’s Balaji Srinivasan and Sandeep Nailwal.

Originally established by Joony Koo (formerly of BlockCrafters Capital) and Christy Choi – the founding Director of Binance Labs. Established relatively recently, AO Labs aims to create a highly community-driven and open source gaming experience through its flagship title – Spacebar.

Set up as a space-themed casual title, Spacebar mixes blockchain tech such as DeFi, NFTs and game guilds with casual gameplay to bridge the gap between the two worlds. There has yet to be any news on which blockchain it would be built.

While the underlying blockchain remains a mystery, AO Labs is currently building a prototype while also borrowing a range of ideas from the world of eSports, along with support from its player community.