Voodoo plans to bring blockchain games to casual and mobile users globally, and partner with some of the most promising gaming studios.
Blockchain-based gaming is a very popular trend in the crypto space. The year 2021 has set the stage for more capital inflow and expansion of this field as large companies continuously enter. French gaming giant Voodoo, best known for its hyper-casual games (the genre that often appears on mobile phones, which is easy to play and free to play), plans to invest $200 million by 2022. into new development studios based on the game blockchain.
Voodoo powers the blockchain-based gaming sector
As the company announced, the investment in this space will be rolled out to fund early-stage gaming studios and establish 20 internal branches over the next year. The platform already has 10 studios, internal and external, engaged solely in building blockchain games and features.
Alex Yazdi (CEO of Voodoo), believes that blockchain technology will disrupt gaming, as players are used to buying digital assets.
By giving players real ownership of their digital assets and creating deeper interactions between players in the form of collecting, trading, selling in-game digital currency and game assets, blockchain will enhance the experience, increase fun and interaction. While talking about the goal behind investing in blockchain, Yazdi added:
This will also allow players to profit from their assets, ushering in a new Play-to-earn model. Our vision is to bring the blockchain model to a wide range of ordinary users who are used to playing mobile games, while helping new or emerging studios achieve success in this segment.
Voodoo’s financial investment will also come with a full-stack platform, to enable other projects to build, test and launch games, in addition to technology tools, data analytics integration, and analysis support.
NFT Games Generated Over $2.3 Billion in Revenue in Q3
The booming video game industry has seen a paradigm shift with the arrival of blockchain, cryptocurrency, and NFT this year. The French unicorn’s investment in the space shows that blockchain gaming is the “new darling” of the industry.
According to the latest Blockchain Gaming Alliance (BGA) report, NFT-powered games generated $2.32 billion in revenue in the third quarter of this year, thanks to massive consumer participation. .
Meaning, about 22% of the overall industry-wide NFT transaction volume this quarter originated in blockchain games, from 29,600 in early 2021 to 754,000 in Q3, the number of game-related wallets grew. an amazing 2.453 %.
NFT game developed by Vietnamese studio – Sky Mavis, Axie Infinity continued to dominate in the first half of the year with a transaction volume of $2.5 billion in September.
Source: Chayanika Deka – Cryptopotato.