Solana Ventures recently announced a $150 million blockchain gaming investment in partnership with Griffin Gaming Partners, and Forte. This initiative represents Solana’s second foray into gaming-oriented investments. The strategic investment arm of Solana Labs has an earlier initiative with Bahamian crypto exchange FTX and America’s Lightspeed Venture Partners.
According to reports, the purpose of the $150 million joint investment initiative is to underwrite Web 3/Solana-based projects. These include Web 3 game developers who are looking to create decentralized games on the Solana blockchain.
Through this partnership, Solana Ventures seeks to leverage the wealth of experience both Forte and Griffin Games possess in the blockchain gaming space. Griffin currently invests in the gaming market, while Forte specializes in creating technology for blockchain-centric gaming applications.
The feeling of reverence Solana has towards its new partners seems to be mutual. For instance, Pierre Planche, Partner at Griffin Gaming, stated that Solana played a key role in shaping how “gaming and interactive media” evolved. Planche further stated that this is the reason why there is seamless gaming integration with blockchain today.
Josh Williams, co-founder and chief executive officer of Forte touched on how NFTs and blockchain technology aligned in the gaming sector. As Williams put it:
“Where game developers once had to continuously create new content for players to consume as one-time purchases, with the advent of NFTs (non-fungible tokens) and other blockchain technologies, game developers can now offer … real property rights and create self-sustaining and thriving economies within their games.”
Image Credits: Pixabay
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