John Smedley’s $30.5M Funding Signals Major Bet on Web3 Gaming

Distinct Possibility Studios, led by John Smedley, has raised $30.5 million in a funding round led by Bitkraft and Brevan Howard Digital, with participation from The Tezos Foundation, Hashed, Delphi Ventures, and others.

This significant capital injection will accelerate development of Reaper Actual, a AAA open-world shooter integrating blockchain features through Etherlink, a Tezos layer-2 solution.

The scale of the funding signals renewed confidence in blockchain gaming after a period of industry skepticism and failed experiments. Smedley’s reputation and the caliber of investors have drawn attention to the project’s ambition and potential impact.

The Reaper Actual Vision: AAA Gameplay Meets Web3 Economy

Reaper Actual aims to blend high-end MMOFPS gameplay with a fully integrated blockchain economy. Players will be able to own, trade, and create in-game assets such as characters, bases, skins, and weapons, all secured and transacted on Etherlink.

This approach promises a transparent, sustainable, and scalable digital ownership experience. We have designed the game's economy to facilitate real-time transactions without sacrificing performance, a feat that has proven difficult for previous blockchain gaming projects.

Did you know?
John Smedley previously co-created EverQuest and PlanetSide 2, both of which set new standards for online multiplayer gaming. His move into blockchain gaming marks his first major project in the Web3 space, leveraging decades of experience with large-scale online communities.

Why Etherlink and Tezos Are Central to the Strategy

The choice of Etherlink, Tezos’ layer-2 network, is pivotal for Reaper Actual’s vision. Etherlink offers high transaction throughput, robust security, and eco-friendly protocols, all essential for scaling blockchain features to AAA game standards.

Smedley emphasizes that Etherlink’s low fees and community-first approach align with his goal of making Web3 features optional and accessible for traditional gamers. The collaboration also reflects Tezos’ broader ambitions to expand its footprint in the gaming sector.

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Industry Hurdles and Lessons from Past Blockchain Game Efforts

Blockchain integration in AAA games remains rare, with most attempts struggling to balance technical demands and user experience. Ubisoft’s Ghost Recon: Breakpoint NFT experiment faced community backlash and was quietly discontinued, while other Web3 projects like Blankos Block Party and Shrapnel have yet to achieve mainstream traction.

While industry observers view Smedley's project as a potential milestone, they also highlight the critical challenges of sustaining a player-driven economy and maintaining long-term engagement.

What Sets Reaper Actual Apart in the Web3 Gaming Landscape

Distinct Possibility Studios is betting on a hybrid approach, where blockchain features enhance but do not overwhelm the core gameplay experience. By making digital ownership optional and focusing on fun, competitive play, Smedley hopes to attract both traditional and Web3-native gamers.

The upcoming “Foundation” Alpha release will provide early access to the game and its on-chain tradeable assets, offering a first look at how Etherlink’s blockchain infrastructure performs at scale.