What Beetroot Lab does

Beetroot Lab is a Latvian mobile game studio registered in Valmiera, Latvia (business ID 44103112043) and valued at approximately $100 million. The studio develops and operates free-to-play mobile games distributed globally across four storefronts — Apple App Store, Google Play (pre-registration), Huawei AppGallery, and Samsung Galaxy Store — with a product-led growth motion targeting competitive mobile gamers worldwide. Headcount is reported in the 11-50 band, and the company is privately held with reported backing from Exantech (2021, ~$11.9M disclosed) and crypto-native VCs Mechanism Capital and Cherubic Ventures.

The studio's flagship product is Dystopia: Contest of Heroes, a free-to-play multiplayer combat mobile game launched in 2024 and set in a cyberpunk dystopian New York circa 2065. Dystopia is built on a proprietary 3D game engine supporting customizable heroes with player-controlled abilities, real-time alliance-based PvP combat, district control mechanics, and live global multiplayer tournaments with prizes; the company reports "hundreds of thousands of players" engaged. The studio's second product is Zeeverse, a play-to-own (P2O) blockchain-based game in which players acquire ownership stakes in the game itself via NFT land sales, positioned as a sustainable alternative to the failed play-to-earn (P2E) model that lost over $2 billion industry-wide to hacks, scams, and project failures. Zeeverse has generated $2 million in cumulative NFT land sales to date.

Beetroot Lab monetizes through two streams: in-app purchases of Gems (virtual currency) within Dystopia for username changes, alliance creation, and in-game items (priced and billed by Apple, Google, Huawei, or Samsung), and NFT land sales for Zeeverse. Player progress is persisted via linked accounts (Game Center, Apple ID, Facebook, Google Play) with explicit one-session-per-account restrictions and an account-transfer prohibition. Customer segments span mobile multiplayer gamers seeking competitive combat experiences and play-to-own enthusiasts seeking community-valued asset ownership without speculative token economies. Leadership comprises co-founders Davis Ziedins (Business Development Lead) and Edgars Vecozolins, with Kaspars Jansons as CFO and Linda Capusa as COO.

Name

Beetroot Lab

Legal name

Beetroot Lab LLC

Website

https://beetrootlab.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Beetroot Lab is a Latvian mobile game studio developing Dystopia: Contest of Heroes, a free-to-play multiplayer combat title, and Zeeverse, a play-to-own blockchain game. Distributed globally across Apple, Google, Huawei, and Samsung stores, the company serves competitive mobile gamers worldwide.

Ownership category

akta.pro rank

Product category

Mobile Gaming

akta.pro primary industry

Mobile & F2P Game Studios (MPAFAAAB)

akta.pro secondary industries

Web3/Blockchain Game Studios (MPAFAAAO), Blockchain Game Studios & Game Development (FSAPAGAC)

Keywords

• Mobile gaming development
• Free-to-play games
• Multiplayer combat games
• Play-to-own gaming
• NFT game assets

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. In-app Purchases: Free-to-play model with in-game virtual currency (Gems) and virtual items available for purchase. Players can buy Gems to change usernames, create Alliances, and acquire various in-game items. All purchases are non-refundable and processed through Apple, Google, Huawei, or Samsung stores.
2. NFT Land Sales: Zeeverse game generates revenue through NFT land sales, reaching $2 million to date. This represents the play-to-own model where players purchase ownership stakes in the game.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Beetroot Lab develops and publishes free-to-play mobile games for iOS, Android, Huawei, and Samsung platforms, with its flagship title Dystopia: Contest of Heroes offering multiplayer combat gameplay with fully customizable 3D heroes, alliances, district control, and global tournaments. It also operates Zeeverse, a blockchain-based play-to-own game generating revenue through NFT land sales where players own parts of the game itself rather than speculative tokens.

Product overview

Beetroot Lab is a Latvian game studio valued at $100 million that develops mobile games. The company operates two main products: Dystopia: Contest of Heroes, a free-to-play multiplayer combat mobile game featuring customizable 3D heroes, alliances, and global tournaments available across iOS, Android, Huawei, and Samsung platforms; and Zeeverse, a play-to-own blockchain-based game that enables players to own parts of the game through NFT assets, representing a shift away from the failed play-to-earn model toward sustainable community ownership.

Differentiator

Problem solved

Functional benefit

Brands

• Dystopia - Contest of Heroes: Free-to-play multiplayer combat game featuring customizable 3D heroes with player-controlled abilities. Set in dystopian New York in 2065 where players build empires by taking over districts.
• Zeeverse

Products and services

• Dystopia: Contest of Heroes A free-to-play multiplayer combat mobile game set in dystopian cyberpunk New York in 2065, in which players build empires by taking over districts, collect sci-fi themed gear, raid other players, form alliances, and compete in live global tournaments with customizable 3D heroes. Available to individual consumer players on iOS, Android (Google Play / Huawei / Samsung) devices.
• Zeeverse A play-to-own (P2O) blockchain game in which players own parts of the game itself through NFT land sales and community-valued tradable in-game assets, marketed as a sustainable alternative to the failed play-to-earn (P2E) model. Targeted at Web3 and crypto gaming enthusiasts seeking true digital asset ownership.

Quantifiable outcome

• $2 million in NFT land sales for Zeeverse
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature3 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sky Mavis (Axie Infinity): Creator of Axie Infinity, the most prominent Web3 mobile/play-to-earn game with NFT assets and a player-owned economy. Directly comparable to Beetroot Lab's Zeeverse on mobile-first Web3 gaming and NFT land/asset mechanics, and to Dystopia on the mobile multiplayer combat genre.
• The Sandbox: Voxel-based Web3 metaverse where players buy NFT land and build experiences. Closest comparable to Zeeverse's NFT land sale model and play-to-own framing targeting crypto-native players.
• Gala Games: Web3 gaming network publishing multiple blockchain-native titles with play-to-own and node economics. Comparable to Beetroot Lab as a multi-game Web3 publisher using NFTs and player ownership models.
• Mythical Games: Studio behind NFL Rivals and Blankos Block Party, building mobile-first Web3 games with player-owned NFT assets. Most direct comparable to Beetroot Lab on mobile-first blockchain gaming and free-to-play plus NFT hybrid monetization.
• Illuvium: Open-world RPG built on Ethereum with NFT creatures and player-owned economies. Comparable to Zeeverse on Web3 AAA-quality gaming and true asset ownership outside the failed P2E token model.

Broad incumbents

• Animoca Brands: Hong Kong-based Web3 gaming conglomerate investing in and publishing dozens of NFT games and metaverses. Broader incumbent operating across the same Web3 gaming ecosystem where Beetroot Lab is positioning Zeeverse.
• Scopely: Mobile F2P publisher (Monopoly GO, Stumble Guys, Marvel Strike Force) known for live ops, tournaments, and alliance systems. Comparable to Dystopia on mobile F2P multiplayer combat and live tournament mechanics at much larger scale.
• Zynga: Major mobile F2P game publisher (now Take-Two) with franchises spanning casual to mid-core multiplayer. Comparable to Dystopia as a broad F2P mobile incumbent operating in the same marketplace ecosystem.

Emerging players

• Decentraland: On-chain virtual world where users buy NFT land parcels and build experiences. Adjacent to Zeeverse's NFT land economy, though Decentraland is a UGC metaverse rather than a structured game.
• Big Time Studios: Multiplayer action RPG with NFT cosmetic items and a player-owned economy positioning against the P2E model. Comparable emerging Web3 title with a similar pitch around sustainable ownership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/BeetrootLab

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Beetroot Lab