Major investors and exchanges are backing GameFi and other play-to-earn projects. The business model adopted by GameFi has attracted investors, developers, and gamers who are eager to use blockchain technology and earn while doing so. Investors and exchanges that are financing blockchain gaming projects include:
Investors and Exchanges with Interest in GameFi
Recently, Esports and interactive media bigwig, BitKraft VC launched a $75 million token fund to invest in digital entertainment and blockchain gaming. Mostly, the fund will be geared towards investment in cryptocurrencies, nonfungible tokens (NFT), and gaming startups in the development stage.
OkEx also announced $10 million funds to create GameFi projects as well as other play-to-earn ventures. According to the company, the funding will come from the $100 million OKEx BlockDream Ventures capital, which finances blockchain projects.
Huobi Ventures launched a $10 million funds for investment in GameFi projects. In addition, the company, through its director Unica Yin, has pledged to offer more support and resources to help the projects succeed and leverage the Huobi Group Ecosystem.
Gaming Crypto United is another NFT-focused group that raised $5 million as seed funding to invest in DeFi gaming projects. Also, DeFi Land, a blockchain gaming platform, has raised $4.1 million to start the DeFi game on Solana.
Thomas Lee, the co-founder of Fundstrat further highlighted the demand for GameFi in a tweet seen below:
This week’s “Crypto Funding Friday’s” pure 🔥🔥☄️
– only for #fsinsight family members
– $BTC $ETH
– keep up with all things #cryptoGet the “first word” at https://t.co/qAi6qVLBXt @fs_insight pic.twitter.com/ojSW4lL78t
— Thomas Lee (@fundstrat) October 10, 2021
Final Thoughts
GamFi is built on a model that benefits all parties involved – investors, game developers, and players. This win-win-win situation has spurred more exchanges and investors to commit more funds to the establishment of blockchain gaming platforms. As the growth of blockchain gaming and decentralized finance (DeFi) continue, more investors and developers will likely join this flourishing industry.
