Partners Ventures with Forte & Griffin Solana to invest US$ 150 million in blockchain game

Partners Ventures with Forte & Griffin Solana to invest US$ 150 million in blockchain game

NEW YORK. Solana Ventures, a division of technology company Solana Labs, has launched a $ 150 million investment initiative focused on blockchain gaming in collaboration with two major players in the sector, Forte and Griffin Gaming Partners.

Forte builds technology for blockchain -based gaming applications and Griffin is a venture capital firm investing in the global gaming market.

Matthew Beck, a partner at Solana Ventures, which funded the Solana blockchain project, said:

According to a report from ResearchAndMarkets.com, the global gaming market is worth $ 173.7 billion in 2020 and is expected to reach $ 314.4 billion in 2026.

This growth is partly due to the global blockade during the pandemic where people moved to gaming platforms to spend time at home.

Blockchain-enabled gaming allows players around the world to own goods, freely exchange goods and services with each other, and participate in a community economy that emphasizes creativity, collaboration and skills.

In fact, in some blockchain games, players can receive cryptocurrencies by playing.

“With the advent of NFT and other blockchain technologies, game developers have to constantly create new content that players use as a one-time purchase, but game developers offer real estate rights. We can create a prosperous, self-sustaining economy for games,” said Josh Williams , co-founder and Chief Executive Officer Forte.

Meanwhile, Griffin has invested more than $ 400 million in gaming and the Web 3.0 company over the past two years. Nick Tuosto, co-founder of Griffin, said the company will continue to partner with Forte and Solana to help advance the blockchain gaming ecosystem.