The Sipher team
Being passionate gamers, their goal was to develop a high-quality and action-packed blockchain game that stood out from the typical games in the market lacking proper graphics, animation, music, and sound.
“We were determined to make our games truly enjoyable. With a solid business plan, we approached several regional investors who not only shared our vision but also introduced us to major investors in the west. The rest, as they say, is history,” recalls Tin Nguyen.
Fueled by the confidence gained from the investors, Nguyen and the team founded Sipher.
Sipher is a blockchain gaming studio based in Vietnam with a mission to offer captivating gaming experiences. Players can control avatars, engage in PvE co-operative dungeons, PvP multiplayer battle arenas, and compete for virtual lands while earning rewards and items.
The founders of Sipher come from diverse backgrounds. Nguyen is the CEO of Trung Thuy, a real estate firm in Vietnam and a member of the Vietnam Forbes 30 Under 30 list of 2015. His partner Loi Luu serves as the CEO and Co-Founder of Kyber Network, an on-chain liquidity protocol empowering decentralized applications in the blockchain space.
The third co-founder, Victor Tran, is the CTO and Co-Founder of Kyber Network, with extensive experience in blockchain and cryptocurrency development since 2016.
Also Read: Sipher closes US$6.8M seed round to develop metaverse game World of Sipheria
Unlike many existing blockchain games, Sipher aims to not only attract the crypto- and NFT-savvy audience but also introduce traditional gamers to a fun e-sports-worthy gaming experience.
“We are working on developing and facilitating experiences for the traditional gaming market to ensure a seamless transition. It’s like blending web2 practices with web3 technologies,” says Nguyen.
While Sipher’s games are yet to be released, the company plans to introduce SIPHER as the governance token, allowing users to stake, clone characters, craft equipment, and participate in decision-making processes. Another token, ATHER, will serve as the reward token for leveling up in-game items and features.
“Our goal is to target global markets with our game titles. We aim for worldwide adoption and differentiation from the blockchain gaming mainstream in regions like Southeast Asia,” reveals Sipher CEO Nguyen to e27.
Sipher Founder and CEO Tin Nguyen
Although Sipher’s games are not yet launched, the community has grown to 108,000 Twitter followers and 163,000 Discord members.
Last October, Sipher secured a US$6.8 million seed funding round with leading investors like Arrington Capital, Hashed, and Konvoy Ventures. Notable angels, including Holly Liu, Kun Gao, and Alex Svanevik, also co-invested in the round.
The funding is dedicated to the development of the upcoming ‘World of Sipheria’ game.
The startup is now seeking a follow-on round to onboard strategic partners for further growth. “We prioritize investors and partners with a strong reputation to help us expand into new emerging markets outside of SEA like Latin America, Africa, and India,” comments Nguyen.
In Nguyen’s view, Southeast Asia, particularly Vietnam, is at the forefront of blockchain gaming’s future. The region is continuously innovating and leveraging cutting-edge technology, positioning it as a leader in the industry.
Also Read: Metaverse is around the corner and you should play a role in it
While the blockchain/metaverse gaming industry in the region is still nascent, vulnerabilities have started surfacing, as exemplified by the recent Axie Infinity hacking incident. Recognizing the importance of cybersecurity, Nguyen emphasizes the need to prioritize user protection and consults experts with experience in US National Defense cybersecurity services through Sipher.
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Image Credit: Sipher
This article was first published on April 19, 2022
The post How Sipher won high-profile VCs’ hearts even before its blockchain games hit the market appeared first on e27.