Gala Games, the successful blockchain gaming platform, announced the launch of a $100 million blockchain gaming fund in partnership with C² Ventures, a new crypto investment firm founded by Ciara Sun, the former head of Listings and Blockchain Investments at Huobi Global. The joint fund will invest in game developers and emerging projects building with blockchain technology, including but not limited to play-to-earn, GameFi, metaverses, and other decentralized gaming solutions.
“As an industry, blockchain gaming needs a clear and concise way as a whole to be accessible to a massive audience. Through our new fund with C² Ventures, we aim to support a new class of developers who can build genuinely entertaining games powered by blockchain technology to millions,” said Gala Games chief strategy officer James Olden.
In addition to funding, portfolio projects will receive guidance, including NFT and pre-sale strategies, token design, in-game economies, marketing and community engagement, monetisation and distribution support, and P2E economies and development, from the Gala Games and C² Ventures teams.
The launch of the blockchain gaming fund marks the first venture fund for both Gala Games and C² Ventures. Sun recently founded C² Ventures after heading up the listings and blockchain ventures team at Huobi Global, one of the world’s leading digital asset exchanges.
“While at Huobi, I learned the ins and outs of working with emerging projects and bringing new, innovative projects to market. With Gala Games by our side as a trusted collaborator, we look forward to finding and nurturing the next great blockchain gaming projects and helping them build worldwide communities,” said Ciara Sun.
Gala Games recently selected Huobi Global as its Preferred Exchange Partner. Huobi Global will provide its expertise, advising Gala projects on marketing, community building, and other core components of Web3 growth, as well as work closely with teams to streamline future token listings. Gala Games listed its GALA token on Huobi Global in November 2021.
Gaming is the fastest-growing form of entertainment in the world—double the size of film and music combined. According to research firm DFC Intelligence, nearly 40 percent of the world’s population is gamers. With global gaming revenue expected to reach $200 billion in 2024 (Newszoo), the space is ripe with growth thanks to the popularity of in-game purchases or microtransactions. Now, a whole new era of player ownership is being ushered in with the advent of blockchain-backed in-game assets.
