Strategic Partners Fund a Different Kind of MOBA

Psychedelic Games has raised $3.5 million for Golden Tides, a pirate-themed game that mixes MOBA mechanics with open-world exploration. The funding comes at a tough time for indie studios looking for cash. KRAFTON, FlyQuest, and Arbitrum Gaming Ventures led the round, announced March 24, 2026.

The studio calls Golden Tides the "world's first Adventure MOBA." Instead of lanes and towers, two teams of four fight across islands and open water in matches lasting 20-25 minutes. Players hunt for treasure, battle enemy ships, and take on AI enemies between fights with the other team. The game launches on PC first, with other platforms planned later. The roster has over 12 characters split between tank, support, and damage roles.

The Dallas studio was founded by brothers Devin and Mason Richman. Their team includes developers who worked on League of Legends, Smite, Fortnite, PUBG, Call of Duty: Warzone, and ARK: Survival Evolved.

The founders deliberately skipped traditional VCs. They wanted partners who could help with more than just money—publishing experience, esports connections, community building. That approach reflects how game funding has changed. When money gets tight, the investors who can actually help ship and market a game become more valuable than those who just write checks.

| Fact | Detail | |------|--------| | Project | Golden Tides | | Sector / Category | Web3 Gaming / Adventure MOBA | | Funding Round | Undisclosed pre-launch stage | | Amount Raised | $3.5 million | | Valuation | Undisclosed | | Lead Investor | KRAFTON / PUBG: Battlegrounds | | Notable Participants | FlyQuest, Arbitrum Gaming Ventures | | Announcement Date | March 24, 2026 | | Disclosure Gaps | No specifics on tokenomics or full Web3 integration details |

What Each Investor Brings

KRAFTON published PUBG, which hit over 500 million players. They know how to scale competitive games globally. FlyQuest runs esports teams in League of Legends and Valorant—this is their first direct investment in a game studio, and they plan to help build competitive leagues and creator partnerships after launch.

Arbitrum Gaming Ventures adds the Web3 angle. Golden Tides is free-to-play with no pay-to-win mechanics, but Arbitrum's involvement suggests blockchain features could come later. The studio hasn't shared specifics on tokens or on-chain elements.

• KRAFTON brings publishing muscle and experience scaling competitive games worldwide.
• FlyQuest could help establish a competitive scene early, working with the developers rather than licensing the game after it launches.
• Arbitrum signals potential blockchain integration, though nothing concrete has been announced.
• Raises above $3 million have become rare for indie studios, making strategic backing more valuable.

MOBAs have been stuck in the same formula since League of Legends launched. CEO Devin Richman points out that the core gameplay loop hasn't changed in 15 years. Golden Tides bets that players want something different—the treasure hunting and naval combat add variety that lane-pushing games don't have.

Early playtesters seem to like the pirate setting and the emphasis on teamwork. Sign-ups are open for the next round of testing.

FlyQuest CEO Brian Anderson talked about building ecosystems from the ground up rather than slapping esports onto finished games. If it works, other studios might copy the approach. Recent development updates mention new progression systems, UI changes, and additional heroes.

Bottom line: There's still money for Web3 games that try something genuinely new, even when the broader market is tough.