The Solana ecosystem has received significant additional funding to become a GameFi hub. Solana Ventures, the strategic investing arm of Solana Labs, has announced a $150 million funding initiative to invest in Web3 game builders on Solana. The funding initiative is being established in partnership with Forte, a technology solutions provider for builders of blockchain-based games, and Griffin Gaming Partners, a venture capital firm singularly focused on investing in the global gaming market. With several such projects launching on a regular basis, many have found their home on Solana’s blockchain. According to the press release, the Fund will invest in blockchain-based game designers and builders within the Solana ecosystem.
The growing popularity of NFTs has propelled blockchain-powered, play-to-earn games into the spotlight in 2019. With several projects launching on a regular basis in recent months, they are now starting to make a name for themselves on the Solana platform.
Solana is a high-performance blockchain that claims to process around 50,000 transactions per second rate, it’s far greater than that of the current leading smart contract platforms. One of the reasons that we are so excited to announce this investment is that blockchain-based NFT-powered games gives players a chance to earn most of the profits for themselves, so they can disrupt the currently established model. The best investors are the ones that invest the most, and according to a new report from research firm eMarketer, by the end of 2022, the global online game market will reach $180 billion. That’s a lot of money, and the most it will be spent on is the game publishers and their shareholders.
Commenting on the funding initiative in a press release, Solana Ventures Partner Matthew Beck said:
“The ecosystem is still defining what the intersection of blockchain and gaming looks like, and I’m delighted to partner with Forte and Griffin Gaming Partners to help support this new generation of game designers and builders.”