Quick Take
- Cold River Games secures $2M to complete development of ARPG Crystalfall, launching in 2025
- Funding led by Beam Investments, joined by CoinFund, Avalanche Foundation, and others
- Game to explore blockchain for secure trading, but core gameplay remains off-chain
Swedish game studio Cold River Games has raised $2 million in funding to support development of Crystalfall, an upcoming free-to-play action RPG set in a steampunk world. The game is planned for release on Steam in 2025.
The funding round was led by Beam Investments and included participation from Partnerinvest Norr, CoinFund, the Avalanche Foundation, and A100X. Previous backers such as Lyrik Ventures, MH Ventures, and SNZ also returned to support the studio.
Founded in 2021 and based in Umeå, Cold River Games is led by CEO Åke André and creative director Daniil Sanders. The 23-person team includes developers who previously worked on Path of Exile, Stellaris, and Pillars of Eternity.
Crystalfall is a traditional isometric ARPG with a focus on loot, skill progression, and build variety. Players control animal-human hybrid characters in a post-apocalyptic steampunk setting. Combat is supported by procedurally generated gear and skill trees, allowing for high levels of customization and theorycrafting. A new class, the Technomancer, was recently revealed along with an expanded talent system.
While the core gameplay is not blockchain-based, the studio is exploring how onchain features could support secure player trading and economy design. Cold River Games said any use of blockchain will be optional and operate in the background without disrupting user experience. Traceable items could be used to reduce fraud and create item history across ownership transfers.
More than 20,000 players have added Crystalfall to their Steam wishlist, and over 12,000 users have joined the studio’s Discord server. Around 100 community ambassadors are helping grow the game’s visibility ahead of launch.
The studio plans to use the funds to complete development and deliver the game by its 2025 target. Crystalfall will be available on PC via Steam, with a potential expansion to other platforms based on player interest.
What Is Crystalfall?
Crystalfall is a free-to-play action RPG developed by Cold River Games. Set in a steampunk post-apocalypse, players control animal-human hybrids and battle through procedurally generated dungeons. The game features randomized loot, a flexible skill system, and online co-op. While primarily off-chain, Crystalfall may integrate optional Web3 features such as onchain item tracking and player-driven trading.
