Ancient8

Based in Palo Alto, California, Ancient8 is a Web3 gaming infrastructure company that develops an Ethereum Layer 2 blockchain network built on the OP Stack to support decentralized applications and game developers. Originally established as Vietnam's largest gaming guild, the organization has since transitioned into a comprehensive software development platform that provides infrastructure tools for onboarding traditional players into the cryptocurrency ecosystem. The enterprise has secured $8 million in total venture funding, reached a fully diluted valuation of $61.87 million, and cultivated a community of over 200,000 Web3 gamers and guild members. The company is backed by prominent institutional investors in the blockchain and gaming sectors, including Dragonfly Capital, Pantera Capital, Makers Fund, Hashed, and Coinbase Ventures. With early backing from Coin98 Labs and Kyber Network, Ancient8 was founded in 2021 by Howard Xu and Zane Nguyen.

High-Level Overview

Ancient8 is a Vietnam-based blockchain company building infrastructure for GameFi and Web3 gaming, including a gaming-focused Ethereum Layer 2 blockchain, GameFi Identity, Launchpad products, and Vietnam's largest blockchain gaming guild with around 200,000 active users.[1][2][3] It serves game developers, gamers, and Metaverse projects by providing software for on-chain gaming experiences—such as fully on-chain games, Telegram games, IP-infused games, and AI-powered games—while solving onboarding challenges for millions of users through community growth, scholarships, education, and partnerships with over 25 GameFi projects like Axie Infinity.[1][2][3] Ancient8 has raised $10 million total ($4M seed in Jan 2022, $6M private in Jun 2022) from top investors including Makers Fund, Pantera Capital, Dragonfly, and Coinbase Ventures, fueling product development and ecosystem expansion amid strong growth, with recent trading volume over $4.9M and a circulating market cap of $24M.[1][2]

Origin Story

Founded in Vietnam, Ancient8 emerged to capitalize on the explosive success of Axie Infinity, the world's leading blockchain game by monthly active users, by establishing the country's largest blockchain gaming guild and developing supporting infrastructure.[1] Co-founder Howard Xu highlighted Web3 games' paradigm shift, enabling gamers to earn income through play, with thousands of blockchain games inspired by Axie since its rise.[1] The company secured early traction via a $4M seed round in January 2022 led by Dragonfly, Pantera Capital, and Hashed, followed by a $6M round in June 2022 led by Makers Fund and C² Ventures, with participation from Coinbase Ventures, Animoca Brands, and others; these funds supported guild growth, partnerships (e.g., Phantom Galaxies), and product builds like GameFi Identity and Launchpad.[1][2]

Core Differentiators

• Gaming-Focused Ethereum Layer 2 ("Super Gaming Chain"): Optimized for Web3 gaming with fully on-chain experiences, including Games on X, Telegram games, IP-infused, and AI-powered titles like PokeyQuest, Onchain Clash, and Zone Nine, redefining scalability and immersion.[3]
• Comprehensive GameFi Infrastructure: Builds software for identity, launchpad, and distribution to onboard millions, paired with Vietnam's largest guild (200K users), scholarships, education, and research for Metaverse construction.[1][2]
• Strong Community and Partnerships: Manages an active 200K-user base, partners with 25+ projects (Axie Infinity, Animoca Brands titles), and leverages investor networks from top VCs for ecosystem momentum.[1][2]
• Proven Funding and Metrics: $10M raised from elite backers; recent on-chain activity shows $4.9M 24h trading volume and $24M market cap, signaling robust adoption.[2]

Role in the Broader Tech Landscape

Ancient8 rides the GameFi and Web3 gaming boom, amplified by Axie Infinity's success in Vietnam—a global hub for play-to-earn models that shifted gaming toward income-generating experiences for players and developers.[1] Timing aligns with Ethereum Layer 2 proliferation for high-throughput gaming, countering scalability hurdles in blockchain games amid rising demand for on-chain, AI-infused, and Telegram-native titles.[3] Market forces like Animoca Brands' ecosystem growth and investor influx (Pantera, Dragonfly) favor Ancient8, as it democratizes Metaverse access via guilds and tools, influencing Vietnam's blockchain scene and onboarding millions to Web3.[1][2] By pioneering modular infrastructure, it empowers developers to build immersive economies, accelerating the "Web3 Nation of play."[3]

Quick Take & Future Outlook

Ancient8 is positioned to dominate Web3 gaming infrastructure as Layer 2 adoption surges, with expansions into AI-powered and Telegram games driving user growth beyond its 200K base.[3] Trends like fully on-chain mechanics and Metaverse IP integrations will shape its path, bolstered by Vietnam's gaming talent pool and blue-chip backers. Its influence may evolve into a full "Superchain" ecosystem, onboarding the next wave of players and solidifying GameFi's shift from hype to mainstream utility—building directly on Axie Infinity's foundational success.[1][3]