French mobile game developer Voodoo, backed by companies such as Goldman Sachs and Tencent, said on Thursday it looks forward to investing $200 million in studios focused on developing blockchain games such as altcoin projects Decentraland (MANA), The Sandbox (SAND) and Axie Infinity (AXS). For details of the news cryptocoin.com keep reading.
Voodoo turns its eyes to the game-based altcoin market
The video game and Blockchain industries have collided with each other after the popularity surge of NFT, which was the catalyst for the creation of the ‘GameFi’ industry. With new monetization options, players and investors from all over the world are drawing their attention to new products related to altcoin projects. Voodoo CEO Alex Yazdhi voices his view that Blockchain will change the gaming industry as we know it, by allowing digital assets and unique items to be added.
According to the CEO, the technology will give gamers ownership of their digital assets, making it possible for gamers to dive deeper. The exchange process, which involves collecting, trading and holding in-game assets or items, is an excellent tool to make the game more interactive. The $200 million provided will be used to fund various companies that are starting to take a new path in blockchain-based game development. Voodoo looks forward to the creation of around 20 internal studios focused on Blockchain game development.
While blockchain was not developed with gaming in mind, the technology for recording and verifying transactions has found new use in the form of NFTs, which has become a billion-dollar industry. The GameFi industry uses Blockchain technology, both to verify Non Fungible Tokens (NFTs) and as a database that can be accessed from multiple private networks. By adding various records to the chain, each individual can access them but cannot change or remove them.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.