Gala Games and crypto investment firm C2 Ventures have partnered up to create a $100 million fund which will be used to invest in game developers, play-to-earn-games, and decentralized gaming projects. The fund will also be used to develop metaverse environments and various other projects being powered by blockchain innovations.
According to analytics, the revenue of the gaming sector is set to hit $200 billion in 2024. With this in mind, the fund’s fundamental aim is to support a new class of developers who will contribute to this huge industry through a new age of engaging, entertaining, and innovative blockchain-powered games.
Gala Games also recently partnered with crypto exchange platform Huobi Games. The partnership sees the crypto exchange take an advisory role, where they will give advice on topics surrounding marketing, distributed ledger technology (DLT) and Web 3.0 growth. C2 Ventures was in fact founded by Huobi Global’s former head of blockchain investments, Ciara Sun, which further infers that that there is a deep level of collaboration and shared ambition between all three firms.
The inaugural Galaverse conference just took place in in Las Vegas, a two-day immersive event to celebrate and promote the Gala Games metaverse. The event saw more than 500 fans from around the world attend, where they were treated to live performances from the likes of Snoop Dog, Maroon 5, Kings of Leon, Arcade Fire, Steve Aoki, Alice Cooper, Billy Idol, Stone Temple Pilots, Kings of Chaos and more.
The Gala Games team announced at the gathering the expansion of its ‘Walking Dead’ franchise, the introduction of AAA developer Certain Affinity’s original IP ‘Last Expedition’ into blockchain gaming, and their new partnership with industry legends Peter Molyneux and Will Wright.
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