Solana Ventures, Forte, Griffin Games bet on blockchain games with $150m fund

Solana Ventures, Forte, Griffin Games bet on blockchain games with $150m fund
To support next-generation game designers and developers on the Solana blockchain, three companies – Solana Ventures, Forte, GGP – have joined forces.

Blockchain-based gaming, which uses NFT, has surged in popularity in 2021. On a wave of increased demand in the sector, the trio – Solana Ventures, Forte and Griffin Gaming Partners – announced a $150 million fund to incubate blockchain-based gaming startups.

Blockchain Gaming, the next big thing?

Solana Ventures has partnered with Forte and Griffin Games Partners (GGP) to jointly establish a $150 million fund. The alliance’s main goal is to help start-up NFTs and “play to earn” games, build the Solana blockchain by investing in Web 3 game developers.

Matthew Beck, partner at Solana Ventures, commented:

“The ecosystem is still defining what the intersection of blockchain and gaming looks like.  I’m excited to be working with Forte and Griffin Gaming Partners to support a new generation of game designers and developers.”

For the uninitiated, Solana Ventures is the strategic investment arm of Solana Labs. Griffin Gaming Partners, on the other hand, is a VC firm that invests in games. San Francisco-based Forte offers infrastructure and compliance for companies looking to enter the blockchain gaming sector.

The announcement comes at a time when blockchain gaming and the concepts of metaverse and virtual worlds are slowly seeping into everyday conversations. Blockchain technology allows game publishers to interact with player bases in ways that were not previously understood.

According to Forte CEO Josh Williams, game developers can now offer players ownership rights and build self-sustaining and thriving economies in their games, thanks to the emergence of NFT and other related capabilities.

Solana’s appeal

This is Solana Ventures’ second rodeo in the blockchain gaming space. The investment firm has appointed Lightspeed Venture Partners and FTX to launch a $100 million fund this November to invest in start-ups developing blockchain game studios.

The move,to bolster games built on Solana’s blockchain, was based on high speed and low transaction cost. Pierre Planche, partner at Griffin Gaming Partners, also shared similar sentiments and cited Solana as a “prime example” of the key technical advances that have helped games and interactive media become the cornerstone of blockchain today.

17/12/2021 – Mr.Advice NEWS

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