French Gaming Giant Voodoo To Invest $200 Million In Blockchain Gaming
French gaming firm Voodoo announced plans to bring blockchain games to casual and mobile users globally. According to the announcement they will be working together with talented gaming studios that are looking to succeed in blockchain game segment.
Blockchain-based gaming is one of the hottest trend in the crypto space. 2021 has witnessed more capital inflow and expansion of the sector as major players continue to enter the space. The latest is French gaming giant Voodoo, best known for its hyper-casual games, which announced plans to invest $200 million in 2022 in new studios developing blockchain-based games.
Voodoo’s investment will be deployed to fund early-stage gaming studios and create 20 internal branches over the next year. The platform already has ten studios, internal and external, that are exclusively involved in building blockchain games and features.
Alex Yazdi, the CEO of Voodoo, believes that blockchain technology will disrupt the gaming industry, as players are already used to purchasing digital assets.
By giving them true ownership of their digital assets, and creating deeper interactions between players in the form of collecting, trading, selling in-game digital currencies and game assets, blockchain will enhance the experience and increase the fun and the level of engagement.
Yadzi explained:
“This will also enable players to make a profit from their assets, opening up a new “play-and-earn” model. Our vision is to bring the blockchain paradigm to more casual and mobile users and to help any young or promising studio reach success in this segment.”
Voodoo’s financial investment will also be accompanied by its full-stack platform to enable other projects to build, test, and launch games, and additional tech tools, data analytics integration, and analysis support.
NFT Games – $2.3B Revenue in Q3
This year the video game industry has seen a paradigm shift with the inclusion of blockchain, crypto, and NFT. The Voodoo’s investment in the space could be interpreted that blockchain gaming is the future.
Blockchain Game Alliance (BGA) reported that NFT-powered games generated a whopping $2.32 billion in revenue in the third quarter this year alone, mainly due to the rapid growth in user adoption.
22% of the collective NFT trading volume across the industry this quarter originated from blockchain games. From 29,600 at the beginning of 2021 to 754,000 in Q3, the number of wallets associated with gaming has surged by 2,453%.
NFT games developed by Vietnamese studio Sky Mavis, Axie Infinity continued to lead the pack for the first half of the year with a trading volume reaching $2.5 billion in September.
