On November 12th, Forte announced it had closed a $725 million Series B round of funding. This money will allow gaming companies to create blockchain games that are both “compliant and interoperable.”
This round of financing was led by Sea Capital and Kora Management. Additional support came from Animoca Brands, Big Bets, Overwolf, Playstudios, Warner Music Group, zVentures, Cosmos, Polygon Studios, Solana Ventures, Griffin Gaming Partners, Andreessen Horowitz, and Tiger Global.
“Over the past 50 years, games have undergone seismic shifts in their business and revenue models, becoming more aligned with players at every turn,” said Forte CEO Josh Williams. “First there were arcade games, where players had to essentially pay per minute of play. Then came home console and PC games, where gamers could play as much as they want after paying once. Next, games moved online and the free-to-play (F2P) model allowed gamers to play even AAA games as much as they want for free, with only optional in-game/in-app purchases. The games industry has grown at each turn as it aligns more and more closely with players, and today it is the largest form of entertainment globally—larger than film and music combined—with nearly $180 billion in annual revenue. We believe we are at the forefront of a new technological wave, and blockchain gaming will be even bigger than all the shifts we’ve seen before. Forte’s mission is to prepare all game developers, big and small—whether you already have a AAA title with millions of players or you are building a blockchain game from the ground up—to be successful in this new landscape.”
Forte is a blockchain gaming platform. The organization reportedly has partnerships with over 40 game developers and has recorded over 15 million users.
(All information was provided by Business Wire and VentureBeat)
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