Solana Ventures, Forte and Griffin Gaming to invest $ 150 million in blockchain games
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Solana Ventures, Forte and Griffin Gaming Partners have announced that they will invest $ 150 million in blockchain games.
The goal is to invest in web 3 game makers that create decentralized games on the Solana blockchain. These games often use non-fungible tokens (NFTs) which use the transparency and security of the blockchain digital ledger to authenticate unique digital items.
NFTs have taken off over the past year and crypto-focused game companies have had great success with NFT games such as Axie Infinity. Now established game developers are taking note and are entering the NFT games market for new ways to monetize digital items.
Solana Ventures is the strategic investment arm of Solana Labs, the creator of the Solana blockchain ecosystem which is popular with games. Griffin Gaming Partners has one of the largest gaming investment funds, and Strong provides infrastructure and regulatory compliance for game companies looking to get started with blockchain games quickly. Forte recently raised $ 725 million through its own funding.
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âThe ecosystem still defines what the intersection of blockchain and gaming looks like,â Matthew Beck, partner at Solana Ventures, said in a statement. “And I’m thrilled to be partnering with Forte and Griffin Gaming Partners to help support this new generation of game designers and builders.”
In blockchain-enabled games, players can actually own property, rather than spending pure entertainment, since their digital items can be authenticated. Players around the world can freely exchange goods and services with each other and can participate in community economies that reward creativity, collaboration and skill. These new systems offer players and communities around the world new creative and economic opportunities.
âGames and interactive media wouldn’t be the cornerstone of blockchain today if it weren’t for the many technical developments that the community has made over the past decade. these demanding experiences, âsaid Pierre Planche, partner at Griffin Gaming Partners, in a statement.
(Pierre happens to be a fairly good Warzone player).
Forte’s platform allows game publishers to easily integrate these blockchain technologies into their games, with products for transparent and embeddable token wallets, NFT minting and selling, payment rails and other services. designed specifically for blockchain token savings and digital and virtual asset management.
âBlockchain enables publishers to engage with their player bases in innovative ways,â Forte CEO Josh Williams said in a statement. âWhere game developers once had to constantly create new content that gamers could consume all at once, with the advent of NFTs and other blockchain technologies, game developers can now offer their audiences real property rights and create self-sustaining and prosperous economies within their games.
He added, âSolana drives the future of blockchain gaming forward, as its super-fast, low-cost solutions ensure scalability, even at tens of thousands of transactions per second, making game creation on Forte with Solana achievable and profitable for both developers and gamers. We’re also honored to partner with Griffin Gaming Partners, who have an exemplary reputation for working with publishers to create the most cutting-edge titles in the gaming industry.
Griffin has invested more than $ 400 million in game and Web 3 gaming companies over the past two years, including its primary investment in Forte’s best platform for blockchain games and balanced digital economies. Griffin is backed by more than a dozen of the world’s leading games, media and technology companies in Europe, the United States, Asia and the Middle East.
âGriffin is excited to continue to partner closely with Forte and Solana to help advance the blockchain gaming ecosystem with a focus on the right technology, great gaming and long-term value,â said Nick Tuosto, co-founder of Griffin Gaming Partners. , in a report.
Solana is the world’s best performing blockchain, supporting 65,000 transactions per second, a block finality of 400 milliseconds, and average transaction costs of $ 0.000025. The network is also extremely
energy efficient, with transactions using less energy than two Google searches.
This is the second blockchain games-focused investment initiative that Solana Ventures has announced, following a $ 100 million fund in collaboration with FTX and Lightspeed.
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