Kevin Lin co-founded Twitch. Now he’s raising a $24 million funding round to create pop culture franchises in the metaverse.

When Twitch co-founder Kevin Lin chose to leave the company in 2020, he promised to “build again.” Two years later, he is assembling the building blocks of an ambitious new company. Lin is the founder and CEO of Metatheory, a Web3 entertainment company that just raised a $24 million Series A funding round led by deep-pocketed firm Andreessen Horowitz.

Metatheory, which launched last year, approaches the buzzy field of blockchain development with an eye toward pop culture. The company’s first project, a game called Duskbreakers, uses a “play to mint” model that rewards gamers with NFTs. In a post announcing the investment, Andreessen Horowitz said that Duskbreakers now has a community of 20,000 players. Meanwhile, in a press release, Metatheory noted that the initial run of 10,000 Duskbreakers NFTs sold out in just six days.

Lin spent more than 12 years at Twitch, dating back to when the streaming platform was still known as “Building immersive digital experiences has always been a passion of mine, and after stepping away from Twitch to explore what’s next in the industry, I truly believe blockchain will open the door to even more possibilities and have a major impact in the gaming, storytelling and community building space,” Lin said in a statement.

“At Metatheory, we’ve built a team of industry vets who are focused on embracing blockchain across multiple media categories with a focus on elevating standards of customer experience and shared ownership.”

Subscribe for daily Tubefilter Top Stories


The storytelling element of Metatheory plays a crucial role in its approach to blockchain development. The company is looking to turn its games and interactive stories into franchises that will thrive in the era of the metaverse. “Metatheory’s mission is to inspire imagination by connecting people worldwide through immersive worlds built on cross-generational IP,” reads the company’s About page.

Andreessen Horowitz, which previously made a massive investment in Bored Ape Yacht Club creator Yuga Labs, is bullish about the cultural potential of NFTs. In announcing its support of Metatheory, the VC firm asserted its belief that “the next major creative franchise will be built from the bottom up through games and web3 primitives.”

In addition to Andreessen Horowitz, other entities that contributed to Metatheory’s Series A include cryptocurrency firms Pantera Capital and FTX Ventures, as well as Breyer Capital, Merit Circle, Recharge Thematic Ventures, Dragonfly Capital Partners, Daedalus, Sfermion, and Global Coin Research.

Published by
Sam Gutelle

Recent Posts

Eugene Lee Yang is fundraising for Beto O’Rourke and making a Try Guys documentary about it

In Texas, former presidential candidate Beto O'Rourke is challenging Republican Governor Greg Abbott, and he's getting…

17 hours ago

Creators are sparking political debates on YouTube and Twitch. Can they change minds?

The most-watched video on Hunter Avallone's YouTube channel is titled "Why I Left The Right." Across…

18 hours ago

Lele Pons announces animator Ben Treat as the $250,000 prize winner in Samsung competition series

Samsung has chosen a TikTok-famous animator to receive its latest $250,000 deal. The Korean electronics…

19 hours ago

Netflix’s perceived value is falling, but it’s still the most indispensable streaming service

Rumors of Netflix's demise have been greatly exaggerated...or have they? The 2022 edition of  Whip Media's…

23 hours ago

Creators reunite at Tubefilter’s 2022 VidCon Kickoff Party

Tubefilter is taking over the racetrack once again for our 10th annual VidCon kickoff party—fueled…

1 day ago

A boxing stream just set Twitch’s new concurrent viewership record

3.3 million is now the number to beat. Barcelona-based creator Ibai broke Twitch’s previous concurrent…

2 days ago