Galaxy Interactive, a part of Galaxy Digital, is a leading venture fund with a focus on interactive entertainment and technology. Their chief focus has been rather plainly blockchain gaming and NFTs, and they have continued to raise significant investment. Their latest investment round has raised $325,000,000.
In 2018, Sam Englebardt and Richard Kim launched Galaxy Interactive and set out on being early adopters of blockchain applications. Englebardt and Kim have been quoted numerous times on their belief in blockchain technology and how the younger generations are migrating as much of their lives as possible to digital worlds. This likely underpinned their interest in the metaverse, and it is projects in this area that have seen support from Galaxy Interactive.
Galaxy Interactive’s involvement in blockchain gaming has already been noteworthy, with investments made in success stories like Immutable Games and The Sandbox. In fact, their portfolio is said to be over 60 blockchain-related investments with more to come.
The Pace of the Blockchain Gaming Industry
Gaming as an industry is in a curious position. It sits on the cusp of a major transition, while many of the significant players make difficult decisions on whether they want to be at the forefront of the change. As we have seen, game platform Steam upset many of us with its archaic thinking, banning all blockchain and NFT games.
In more positive news, however, the industry is reacting positively to innovation in so far as mergers and acquisitions in the gaming space have spiked. This spike correlates with the sudden rise of Play to Earn games and the gradual mainstream adoption of blockchain as a technology with widespread utility. This isn’t to say that the correlation is evidence of causation, but I would be surprised if it hadn’t played a fundamental role in the uptick.
Galaxy Interactive started acting upon the belief of blockchain as a force for good in gaming around the same time we did, 2018, albeit they might have had a slightly larger impact. It warms me to know that there are people like Englebardt and Kim who share our stance on blockchain gaming, and have the power to rally considerable wealth to aid in the sector’s growth.
Lead image a composite using an image by Burak Kebapci via Pexels
