Epics DAO, a social contribution blockchain game supporting open-source development, has secured funding of $450K in its seed round
Epics DAO, a social contribution blockchain game supporting open-source development, has secured funding of $450K in its seed round
ELSOUL LABO B.V. (headquartered in Amsterdam, Netherlands, CEO: Fumitake
Kawasaki) is pleased to announce that its social contribution blockchain game,
Epics DAO, which supports open-source development, has successfully executed a
pre-seed and seed round amounting to $450,000.
This was accomplished through a SAFT and token sale, with participation from
East Ventures, a startup investment VC based in Singapore, Rikka, a Web3-focused
seed VC from Estonia (MIRAISE, a VC specializing in Japanese engineer
entrepreneurs, serving as an advisor and LP for Rikka), two business
corporations in Japan, and 20 individual investors.
Purpose of Funding
Epics is a social contribution blockchain game (BCG) that realizes a sustainable
open-source software development environment for a better society. Gamification
with incentives for all participating players creates a positive cycle where
"playing more helps solve more societal challenges."
With the recently acquired funds, Epics will develop a blockchain game on the
Solana chain, known for its affordable fees and fast operations, leveraging
NFTs.
Achievements and Future Developments
In 2022, Epics was honored with a 5th place finish among over 18,000 entries at
the Solana Summer Camp Hackathon. In the same year, we received WBSO (Research
and Development in Advanced Science and Technology) certification from the Dutch
government. Additionally, in January 2023, the $EPCT token issued by Epics DAO
was listed on a decentralized exchange (DEX) on the Solana blockchain through an
Initial DEX Offering (IDO).
The waitlist (closed in early August) for the Epics Beta, which is scheduled for
release in December 2023, has already attracted over 50,000 players.
Solana Chain has also launched the Web3 mobile "Solana Saga Phone" and has
opened the Solana dApp Store.
Epics will be compatible with this Solana Mobile Stack and plans to be available
on the Solana dApp Store, collaborating with the Solana Mobile Team.
Details of Funding
- Amount Raised: $450,000
- Method: SAFT and Token Sale
- New Share (Token) Holders: East Ventures, Rikka, two corporations, and 20 individual investors.
- Use of Funds: Product development and strengthening organizational structure.
Comments from investors who participated in this round
Mr. Shinichi Iwata of MIRAISE ( https://www.miraise.vc ), Partner and CEO
At MIRAISE, we actively support Japanese engineers who are starting businesses
abroad. ELSOUL LABO, founded in the Netherlands by the highly talented engineers
Kawasaki and Kishi, utilizes blockchain technology to enhance the sustainability
of open-source development environments.
In this round, the company has received investment from Rikka, a strategic
partner of MIRAISE. With the investment from European investors, we look forward
to a more solid global business foundation. MIRAISE will continue to provide
support through the community in both technical and business aspects.
Mr. Urmas Peiker of Rikka ( https://www.gopoolside.com ), Founder and CEO
We are truly impressed by the exceptional Japanese programmer entrepreneurs who
have ventured into the European tech startup scene.
The Estonian government has been open-sourcing e-government solutions and
operating authentication solutions using blockchain. These initiatives have
demonstrated significant public value, and I have great expectations for this
field.
As an Estonia-based Web3-focused fund, we see a strong alignment in investment
themes and are excited to collaborate with our strategic partner, MIRAISE, to
support the company's global endeavors. We eagerly anticipate the opportunity to
contribute to their challenges on a global scale.
※ Rikka is a seed VC specializing in Web3 companies in Estonia, and MIRAISE, a
VC specializing in engineers and entrepreneurs in Japan, is involved as an
advisor and LP.
Mr. Hirokazu Nakamura of trattoria ( https://trattoria.tokyo ), CEO,
Investor
After hearing from Kawasaki and Kishi, I immediately decided to invest based on
two key pillars: social significance and global reach. While there are many
entrepreneurs in Japan aiming for global success, few are actually operating
overseas as a base.
Notably, the company ELSOUL LABO, founded by the two, has received certification
from the Dutch government for cutting-edge scientific research in the fields of
AI and blockchain.
I have high expectations for this team's ability to succeed on a global scale. I
look forward to supporting their future growth.
Founder's Comments
Fumitake Kawasaki (Founder and CEO at ELSOUL LABO B.V., Co-founder of Epics
DAO)
We have been involved in the commercial use of open source, as well as the
initiation and development of open-source projects.
Open-source development, which can globally improve development efficiency, is
extremely important for the upcoming software-centric society.
However, there are many economic challenges, and it is not yet a sustainable
environment.
We aim to realize a new form of open-source support by leveraging gamification
and token economics.
Shota Kishi (Co-founder of ELSOUL LABO B.V. and Epics DAO)
Utilizing blockchain technology allows us to visualize social economic value due
to its fairness and transparency, thus providing appropriate incentives.
Gamification elements such as "achievable goal-setting," "visible growth," and
"self-expression" are effective in building a platform where everyone can
participate, and they promote socially valuable actions while enjoying them.
By combining these, we will construct a mechanism to solve difficult-to-see
social issues like the resource shortage in open-source development on a global
scale.
About the Social Contribution Blockchain Game “Epics”
Ten years ago, the corporate adoption rate of open-source had been only about
10%, it was adopted by 90% of companies by 2022 and is now a source of
innovation. However, since its development is still free of charge, it suffers
from severe resource shortages, and over 80% of its software contains
open-source code with vulnerabilities.
On the other hand, investment in open-source software has a 10-fold effect on
GDP and is returned to people worldwide with a high return on investment as a
public good.
Epics provides incentives through token economics to developers, investors, and
public relations activists who can solve open-source software development
problems. Each person seeks fun and incentives, and by doing so, a virtuous
cycle is created in which social problems are solved.
Through the combination of blockchain and gamification, Epics will solve the
social problem of lack of resources for open source development through the "new
economy".
Company Overview
- Name: ELSOUL LABO B.V.
- Founders: Fumitake Kawasaki, Shota Kishi
- Business: Software R&D (AI, Cloud, Blockchain)
- Established: September 2020
- Location: Weteringschans 165, 1017XD Amsterdam, Netherlands
- Certification: WBSO (Advanced R&D) by the Dutch Government, Google Cloud Build Partner
- Company URL: https://labo.elsoul.nl
- Press Kits：https://labo.elsoul.nl/en/press-kits/
About the DAO
- DAO Name: Epics DAO
- Founders: Fumitake Kawasaki, Shota Kishi
- Business: R&D and management of a social contribution blockchain game
- Established: June 2022
- Certification: WBSO (Advanced R&D) by the Dutch Government
- Awards: 5th place in the Solana Summer Camp Hackathon 2022
- DAO URL: https://epics.dev
- Twitter URL: https://twitter.com/EpicsDAO2
