Missed the GamesBeat Summit excitement? Don’t worry! Tune in now to catch all of the live and virtual sessions here.
Theorycraft Games just gave fans a first in-depth look at its first title, codenamed Project Loki. The game blends a variety of genres, fusing the teamplay of MOBAs with the physics and combat of a 3D action shooter. The studio itself describes the title as a mix of League of Legends, Apex Legends and Super Smash Bros.
This choice of genres makes sense given Theorycraft Games’ leadership. The studio was founded by veterans of Riot Games, Bungie, Blizzard and Valve Software. Their experience working on games such as League of Legends, Halo, Destiny, Overwatch, Valorant and Team Fortress 2 will be valuable for Project Loki’s development.
The familiar faces behind the title also give Project Loki a leg up in building an audience. Joe Tung, CEO of Theorycraft Games, interfaced with players directly when he was EVP of League of Legends at Riot Games and an executive producer at Bungie.
Theorycraft also has the investment to fund this ambitious project that aspires to engage players for over 10,000 hours. In March 2021, the studio raised $37.5 million in a Series A round led by NetEase. This was followed by a $50 million Series B round in September 2022 led by Makers Fund. Other key backers include NEA, Bitkraft Ventures, Griffin Gaming Partners, Sisu Game Ventures and a16z.
Sign-ups for Project Loki’s next pre-alpha playtest are live and will run for 48 hours starting tomorrow June 29.
GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Discover our Briefings.