Puzzle Pirates creators land a big sack of booty

by Michael Zenke Mar 6th 2008 at 11:00PM

Filed under: Puzzle Pirates, Business models, MMO industry, News items, Free-to-play

The Venture Beat site is reporting that Three Rings, the developer of the fantastic Puzzle Pirates and the unique microtransaction title Bang! Howdy!, landed a big chest of gold this past summer. I imagine the gold was given to them in the form of American currency, as the company negotiated for some $3.5 million in venture capital money. The site also notes that the company's unique virtual currency platform is enormously successful, with $4 million in revenue reported by the company for 2007.

Though the site's article on the investment is light on what that VC money will be used for, they do briefly discuss Three Rings' work on the Whirled platform: The success of [the virtual currency] model has helped propel the company to 30 employees and is planning its new social networking game world, Whirled, where users will be able to create their own avatars, games, rooms, music, and pets.

[Via Next Generation]

Tags: daniel-james, puzzle-pirates, three-rings, venture-capital