As a seasoned crypto investor with a penchant for gaming and a knack for recognizing potential, I am thrilled to see VanEck making strategic moves into the Web3 gaming space. The investment in Gunzilla Games is not just another addition to my portfolio, but a testament to the future of blockchain-based gaming.
VanEck’s private crypto fund has invested in gaming startup Gunzilla Games, marking the asset manager’s second bet on Web3-enabled gaming, VanEck said on Oct. 31.
In a recent post on the X platform, Matt Maximo from VanEck mentioned that Gunzilla is responsible for Off The Grid, a game set in a dystopian cyberpunk world where players can earn Gunzilla’s own digital currency, known as GUN token.
Maximo stated that cryptocurrency is viewed as a means to elevate the quality of gaming and optimize earning methods,” or simply, “Maximo believes crypto can boost gaming enjoyment and streamline revenue approaches.
In the third quarter of 2024, gaming startups received approximately $517 million in investments, as reported by Konvoy, a venture capital company.
In March, VanEck made an investment in Parallel, a web-based card game that operates within the Web3 space. Notably, the cards in this game have their digital representations stored as Non-Fungible Tokens (NFTs) on the blockchain, according to Parallel.
In addition, the $35 million financing round for Parallel was supported by both Solana Ventures and Coinbase’s Base Ecosystem Fund.
For several decades now, I’ve observed gamers constructing mechanisms to facilitate the sale of in-game assets. Interestingly, I’ve noticed that Steam’s peer-to-peer gaming marketplace alone has surpassed a staggering $32 billion in trading volume.
Maximo noted that blockchain technology could address gamers’ need for openness and ownership over their in-game assets.
In the game “Off The Grid,” participants accumulate GUN tokens, these tokens grant access to in-game assets that users can store within their Web3 digital wallets.
Players also use GUN tokens to purchase in-game items directly on Off The Grid’s Web3 marketplace.
According to Maximo’s explanation, Gunzilla’s marketplaces function within the Avalanche network’s subdivision known as GUNZ.
Maximo mentioned that the blockchain feature within OTG serves as a technological means to establish a platform where gamers can swap cosmetic goods – a highly profitable concept originally developed by Steam and others.
Off The Grid tapped Richard Morgan, the writer behind Altered Carbon, and Neill Blomkamp, a renowned filmmaker, for their creative direction.
2022 saw the introduction of VanEck’s Digital Asset Alpha Fund, a venture designed to invest in liquid tokens by applying conventional appraisal techniques, as stated on their official website.
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2024-11-01 00:21