Gaming industry veteran John Smedley has successfully secured $30.5 million in funding for his latest venture—a cutting-edge AAA shooter built on the Tezos layer-2 blockchain, Etherlink. This marks Smedley’s debut into the Web3 gaming sphere, a move that underscores the growing nexus between traditional gaming and blockchain technology.
A New Dawn for Web3 Gaming
The infusion of capital not only highlights investor confidence but also promises a significant evolution in the gaming landscape. Etherlink, with its robust capabilities, is set to power this new shooter, offering players a seamless blend of gameplay and blockchain integration. “This investment signals a pivotal moment for both the gaming and crypto industries,” says Marcus Hall, an analyst at Crypto Frontiers. “It’s not just about integrating blockchain; it’s about redefining how players interact with games.” This follows a pattern of institutional adoption, which we detailed in our analysis of FinTech Digital Asset’s $135M raise for its blockchain network.
The choice of Tezos as the underlying blockchain is particularly intriguing. Known for its energy-efficient consensus mechanism and self-amending protocol, Tezos ensures that the game remains both environmentally sustainable and technologically adaptable—critical factors in today’s rapidly evolving digital landscape. With Etherlink as a layer-2 solution, the game aims to deliver fast transactions and minimal fees, making in-game purchases and interactions more fluid.
Bridging Traditional and Blockchain Gaming
John Smedley’s foray into Web3 isn’t just a bold step for him; it’s a potential game-changer for the industry. His reputation for developing immersive gaming experiences is well-established, with previous successes like EverQuest and PlanetSide under his belt. By venturing into blockchain gaming, Smedley is not only expanding his portfolio but also pushing the boundaries of what’s possible in game design.
Industry insiders are watching closely. “Smedley’s entry into blockchain gaming is a validation of the technology’s potential,” notes Sarah Kim, a blockchain strategist. “It’s a testament to how mainstream gaming veterans are beginning to see the value that blockchain can add—not just in terms of technology, but also community engagement.”
The use of blockchain in gaming has been a hot topic, with debates around its potential to revolutionize game ownership and digital asset management. Web3 technology allows players to genuinely own in-game items, trade them on open marketplaces, and potentially earn income, shifting the paradigm from play-to-win to play-and-earn. For a deeper dive into the financial implications of such ventures, see our coverage of Pompliano’s crypto firm raising $750M.
Challenges and Opportunities Ahead
Yet, despite the optimism, challenges remain. Integrating blockchain technology into traditional gaming environments isn’t without its hurdles. Scalability, user onboarding, and regulatory landscapes are just a few of the obstacles that developers must navigate. Moreover, the broader gaming community’s reception is still a mixed bag, with some players skeptical about blockchain’s role in gaming.
“Adoption is key,” cautions Tom Reynolds, a gaming industry consultant. “While there’s excitement, there’s also a learning curve for both developers and players. The success of Smedley’s project will hinge on how well it can bridge these gaps.”
Looking ahead, the implications for the industry are substantial. As more traditional gaming studios dip their toes into blockchain waters, the lines between digital ownership and gameplay are expected to blur further. This convergence could lead to new business models, partnerships, and revenue streams—exciting prospects for developers and players alike.
In the end, John Smedley’s latest venture is more than just a new game—it’s a beacon for what the future of gaming could entail. Will this marriage of blockchain and gaming stand the test of time? Only time will tell. But one thing is clear: the industry is on the brink of a transformative era, one where boundaries are redefined and possibilities are limitless.
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This article is based on: John Smedley’s studio raises $30.5M for new shooter built on Etherlink
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
