Perth tech syndicate partners with equity firm

Emerging Perth gaming studio Ninja Syndicate has partnered with private equity firm DashEx, to fund its metaverse game Supremacy.

Ninja Syndicate, currently part of Ninja Software, has secured an initial investment for the development and release of Perth’s first metaverse gaming project Supremacy.  

Ninja Syndicate, which spun out of Ninja Software earlier this year, has secured an initial investment of $US100,000 ($AU140,500) for the development and release of Perth’s first metaverse gaming project Supremacy.  

Founded by John Nguyen and Alexander Dunmow, Ninja Syndicate is a game studio run by a group of software engineers, crypto specialists, video game designers and 3D artists who release online games.

This latest investment from DashEx bring the valuation of Supremacy, an online game based in the year 2149, to $US10 million.

DashEx, Perth fund manager Digital Capital Management’s cryptocurrency investment arm, invested one per cent of Supremacy’s value via seed funding.

The metaverse, which described as the future of the internet powered by blockchain, is gaining popularity with gaming platforms including Sandbox, has a combined market cap of $US1.6 billion ($AU2.25 billion).

Digital Capital Management co-founder Chadd Burgess said he and his brother Todd Burgess were drawn to Ninja’s work bringing the metaverse to Perth.

“That space is growing rapidly and they’ve been working solidify on it now for a long time, even before the hype, and we’re impressed with their progress,” he said.

Ninja Syndicate chief executive Alex Dunmow said the investment would help establish the metaverse’s presence in Perth.

"Supremacy is just the start of what can be achieved, combining varied types of meta gaming into something huge,” he said.

Investment in Supremacy is currently open to private investors and launches to the public on February 22 next year.