Gala Games and crypto investment firm C2 Ventures will invest in play-to-earn games, developers, and decentralized game projects. For this purpose, the two companies established a partnership and created a 100 million dollar investment fund. This fund will also support metaverse worlds and various blockchain-based projects.
According to analyzes based on various data, the revenues of the game industry are expected to exceed $200 billion by 2024. On the other hand, Blockchain games have a significant contribution to the total revenue. Considering this situation, it is possible to say that investor companies want to take blockchain games one step further in the era of informatics and interaction. The $100 million fund will encourage developers by supporting more fun and innovative blockchain games.
Gala Games recently partnered with crypto trading platform Huobi Games. The partnership aimed to exchange views on issues related to the crypto exchange’s marketing, distributed ledger technology (DLT), and Web 3.0 growth. C2 Ventures was also founded by Ciara Sun, former head of blockchain investments at Huobi Global. This indicates a collaboration between C2 Ventures, Gala Games, and Huobi. Companies that come together for funding today actually meet beforehand.
The fund announcement and keynote conference took place on the metaverse of Gala Games. In the event attended by more than 500 fans worldwide, names such as Snoop Dog, Maroon 5, Kings of Leon, Arcade Fire, Steve Aoki, Alice Cooper, Billy Idol, Stone Temple Pilots added color with their live performances.
It is not yet known which companies or projects the fund will be used to invest in. We may soon see new ventures or improvements fueled by this fund in the blockchain gaming world. It seems that Gala Games and C2 Ventures will continue to make a name for themselves in NFT news.