Gala Games and C� Ventures Announce $100 Million Blockchain Gaming Fund
Blockchain gaming platform provider Gala Games recently revealed the formation of a new partnership with crypto investment firm, C² Ventures. The two companies have joined together to launch a $100 million blockchain gaming fund, which will specifically be used to support game developers and designers utilizing blockchain technology.
The fund between Gala and C² Ventures will help game developers expand on a number of promising in-game projects, including play-to-earn economies, NFT marketplaces, and even metaverse support.
"As an industry, blockchain gaming needs a clear and concise way as a whole to be accessible to a massive audience," said James Olden, Chief Strategy Officer at Gala Games. "Through our new fund with C² Ventures, we aim to support a new class of developers who can build genuinely entertaining games powered by blockchain technology to millions."
The video game industry has seen incredible growth over the last two decades, and doesn’t seem to be slowing down anytime soon. In fact, Newzoo research recently showed the games market is expected to grow to almost 219 billion by 2024. The soaring popularity of both platform and mobile gaming has inspired game developers to utilize blockchain technology to make gaming experiences more interactive, as well as to create new monetization strategies for businesses.
The success of microtransactions and other in-game purchases in the videogame space has proven gamers are more than willing to spend to support the games they enjoy. Thanks to the support of decentralized blockchain infrastructure, future gamers will have the opportunity to take ownership over their favorite titles with digital assets, and even reap monetary rewards, such as tokens, simply by playing.
Interested in learning more about the potential of Blockchain? Join us at The Blockchain Event In Fort Lauderdale, Florida from February 8-11!
Edited by Maurice Nagle
