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Solana Ventures Launches $150M Fund to Enhance GameFi on Solana

Solana Ventures Launches $150M Fund to Enhance GameFi on Solana

Key Takeaways

  • Solana Ventures has introduced a $150 million funding initiative for builders of blockchain-essentially based games on Solana.
  • The initiative is being established with blockchain gaming skills provider Arena of skills and gaming-focused venture capital firm Griffin Gaming Companions.
  • Here’s Solana Ventures’ 2nd gaming-focused funding initiative, following the $100 million fund launched in November with FTX and Lightspeed Enterprise Companions.

Solana Ventures has partnered with Arena of skills and Griffin Gaming Companions to make investments in Solana’s blockchain gaming ecosystem.

Solana Ventures Leads $150M Funding Initiative 

The Solana ecosystem is getting more funding to become a GameFi hub.

Solana Ventures, the strategic investing arm of Solana Labs, has introduced a $150 million funding initiative to make investments in Web3 game builders on Solana.

The funding initiative is being established in partnership with Arena of skills, a skills alternatives provider for builders of blockchain-essentially based games, and Griffin Gaming Companions, a venture capital firm singularly pondering about investing within the worldwide gaming market.

Per the clicking release, the fund will make investments in blockchain-essentially based game designers and builders at some level of the Solana ecosystem. Axie Infinity’s big success and the rising reputation of NFTs have propelled blockchain-powered, play-to-invent games into the spotlight this year. With a big substitute of such initiatives launching continually in most fresh months, many have found their home on Solana.

Solana is a high-efficiency blockchain that claims to process round 65,000 transactions per 2nd—a rate a long way greater than that of essentially the most fresh main super contract platform, Ethereum. Resultantly, some of essentially the most anticipated game releases within the subject for the next year have opted to assemble and open on it.

Commenting on the funding initiative in an announcement, Solana Ventures Companion Matthew Beck mentioned: 

“The ecosystem is composed defining what the intersection of blockchain and gaming looks to be like take care of, and I’m contented to partner with Arena of skills and Griffin Gaming Companions to support reinforce this fresh generation of game designers and builders.”

Here’s the 2nd blockchain gaming-focused investment initiative for Solana’s investing arm. In November, it launched a $100 million fund in partnership with Lightspeed Enterprise Companions and FTX. Griffin Gaming Companions, on the somewhat loads of hand, has invested over $400 million into stale and blockchain-essentially based gaming corporations over the last two years. 

Griffin Companion Pierre Planche added that gaming and interactive media had become “a cornerstone of blockchain” thanks in segment to Solana serving to “pave the approach with scalability and particular person skills.” 

Per some estimates, the video game industry’s income is forecasted to surpass $180 billion in 2021, with most of the profits going to the game publishing corporations and their shareholders. NFT-powered play-to-invent games, on the somewhat loads of hand, give gamers an alternate to to invent most of the profits for themselves, meaning that they would per chance possible successfully be vastly disruptive to the currently established mannequin.  

Disclosure: At the time of writing, the author of this characteristic held ETH and several other somewhat loads of cryptocurrencies.

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