The amount of investment that has rushed towards gaming with the advent of blockchain to the industry is staggering. In 2021, we have seen billions of dollars put into funds and invested into metaverse projects from all angles. Now, the collective, Game7, has rallied $500m thanks to the likes of Forte and BitDAO with the intention of accelerating the blockchain gaming industry in all ways possible.
The Game7 Fund Has Serious Backing
The first people who deserve credit are BitDAO and Forte. BitDAO is said to have committed an astonishing $400m worth of its crypto assets. BitDAO is one of the biggest DAOs in terms of assets and has the support of the likes of famed venture capitalist, Peter Thiel.
Forte is a company building token-based economic technology for games and supporting the industry with grants to creators. They are also building tools to aid developers and players overcome some of the familiar difficulties with our early sector of the gaming industry. Mark my words, Forte will be a force in blockchain gaming.
In addition to the heavy financial backing from Forte and BitDAO, there are a number of organizations backing the proposal too. Familiar names like Polygon Studios, Avalanche, Solana Ventures, and Warner Music Group.
The $500m will be drip-fed over the next 5 years to those working in blockchain gaming and will be allocated in the following ways: 80% to game studios and DAOs, 15% to research and development, and 5% to the education of developers. These categories are reasonably loose, but as you can see, they’re heavily weighted towards game creation.
Why This is of Great Importance
Many of us have been certain of blockchain’s role in the future of gaming and 2021 has proven us right. However, onboarding players is still tricky and the divide between mainstream gaming and blockchain still needs to be bridged. The Game7 collective with Forte and BitDAO, have formed a half-a-billion-dollar boost to a promising sector of the gaming industry that is in its infancy.
What excites me most about blockchain gaming isn’t the ownership of in-game items, Play to Earn, or player-driven economies; it’s everything that hasn’t been thought of yet.