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Solana Partners with Forte & Griffin. To Invest $150 million in gaming apps


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Three companies have tied up to support Solana’s next-gen game applications and creators on the Solana Blockchain

Blockchain-related play-to-earn games leveraging NFTs have potentially invalidated in vogue in 2021. The trio Solana Ventures, Forte, and Griffin partners of gaming announced a fund of about $150 million. The purpose is to incubate the startups of blockchain games. The announcement comes at a time when demand in the pay-and-earn gaming industry is surging.

Solana Ventures is the investment unit of technology company Solana Labs. Recently it announced the commencement of about a $150 million investment preliminarily focused on blockchain gaming. On the other hand, Forte establishes technology specifically for such gaming related to the blockchain application. In contrast, Griffin is a capital company investing in the international gaming marketplace. 

Solana, in contrast, is providing such services relating to the blockchain trending platform that is mainly focused on such areas of desiring to offer such advanced architecture for a high level of blockchain. The platform is focused on decentralizing different services associated with blockchain having different measuring issues, supporting the users in terms of enabling them to measure over an uncountable amount of transactions every second, mainly on their stock hardware.

The purpose of the Solana venture for expanding their company in the industry:

According to the report by researchandmarkets.com, last year, the international gaming market’s overall value was approximately $150 million. At the same time, experts expect the value of the gaming industry to reach a whopping $314.40 billion by 2026. The overall outgrowth is further distinguishable from the universal lockdowns during this ongoing covid-19 pandemic. Because at this specific time, people were unable to get out from home and better turned to such a platform of gaming for their time pass. 

When it comes to blockchain gaming, players can own different types of crypto merchandise and freely trade them. Also, they can provide in-game services to each other. At the same time, they are capable of participating in their community finances. Doing so potentially rewards them with creativity, cooperation, and even skills. Some blockchain games further allow players to earn rewards in cryptocurrencies while playing them.

The investment of Solana aims at such areas of investing in Web 3 game creators in terms of developing such decentralized games on the Solana Blockchain. After that, both focused on inviting, attracting developers for building gaming applications and even bringing more gaming-associated development on top of the company. 

Jahnavi Arora
Jahnavi Arora
Jahnavi is a freelance content writer.

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