John Smedley, the renowned game developer behind iconic franchises like EverQuest and Planetside, has announced a successful $30.5 million funding round for his new studio’s debut title — a AAA shooter that marks his entry into the Web3 gaming arena. The game will be built on Etherlink, a layer-2 blockchain solution developed on the Tezos network, known for its energy efficiency and low transaction costs.

The funding round was led by major venture capital firms focused on blockchain gaming and technology, though specific investors have not yet been disclosed. This injection of capital positions Smedley’s project as one of the most ambitious blockchain-powered shooters currently in development.

Why Etherlink and Tezos?

Smedley’s team has chosen Etherlink for its blend of scalability, speed, and eco-friendly consensus. Etherlink’s architecture allows thousands of transactions per second with minimal gas fees — a key requirement for integrating blockchain into a fast-paced shooter where players could engage in real-time trading of skins, weapons, and digital collectibles. Tezos' proof-of-stake model significantly reduces the environmental footprint compared to traditional proof-of-work chains, aligning with growing demand for greener technologies in gaming.

Web3 Gaming’s New Phase

This development reflects a maturing Web3 gaming sector. After several years of speculative NFT games that struggled to gain mainstream appeal, the focus is now shifting to delivering gameplay-first experiences where blockchain features support — rather than dominate — player interaction. With Smedley’s decades-long experience in building massive online worlds, expectations are high that his team can achieve a balance between engaging game mechanics and decentralized asset ownership.

Challenges on the Horizon

Despite the enthusiasm, Smedley’s project will need to overcome hurdles common to Web3 gaming. The space continues to grapple with player skepticism, regulatory uncertainty, and the need to demonstrate that blockchain integration can enhance fun rather than serve as a vehicle for speculation. The success of this shooter may hinge on how seamlessly these Web3 elements are woven into the core gameplay.

The $30.5 million raise highlights growing institutional confidence that blockchain technology, if implemented thoughtfully, can power the next generation of gaming. Smedley’s new title — still under wraps in terms of name and release date — could be pivotal in redefining what a blockchain-based AAA game can be.