Voodoo Invests $200 Million in Blockchain Gaming

• Voodoo has unveiled plans to invest $200 million in blockchain gaming projects

• The funds will be used to support emerging gaming studios developing blockchain-based games

• NFT powered games have generated a staggering $2.3 billion worth of revenue in 2021

French gaming enterprise Voodoo has announced that it is set to invest $200 million in blockchain gaming.

The organization intends to use these funds to support emerging gaming studios that develop blockchain-based games.

There has been increased interest in blockchain gaming with over worth $500 million worth of investment into the sector in the first half of 2021.

According to report by Alliance (BGA), NFT powered games have generated $2.3 billion in revenue for this year.

According to the official announcement, Voodoo’s investment fund will be used to sponsor early blockchain-based gaming studios and create internal branches from 2022.

The platform aims to transform the gaming sector by integrating blockchain tech into gaming and allowing users to interact in the ecosystem.

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Alex Yazdi, the CEO of Voodoo had the following to say during the announcement:

‘There are few occasions in life when we experience a technological breakthrough that transforms industries. Blockchain will especially disrupt gaming, as players are already used to buying digital assets. This technology will give players true ownership of their digital assets, creating deeper interactions between players – collecting, trading, selling in-game digital currencies and game assets – which will increase fun and engagement. This will also enable players to make a profit from their assets, opening up a new “play-and-earn” model’

In addition to the financial investment, Voodoo will also create a full-stack platform where games can be built and tested.

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