Alameda Research, Galaxy Digital, and Republic Crypto have teamed up to launch an investment consortium that will focus on bringing traditional gaming studios and developers to Web3. The consortium, called NG+, will invest in players in the traditional video game industry to help with token liquidity.
“As the technology that powers the creation and enjoyment of video games continues to evolve, so do the business models by which games monetize,” said Sam Englebardt, Co-Founder and Partner at Galaxy Digital and Founding General Partner of Galaxy Interactive. “But a few things will remain constant and fundamental to the enduring success of a game – the quality of the gameplay and the creative vision of the game developers.”
As the gaming industry continues to lean into blockchain-based solutions and revenues, token economics has become an area of need. NG+ hopes to ensure that experienced developers have the support they need to enter Web3, added Englebardt.
NG+ has already taken on its first three participants: GreenPark Sports (a metaverse sports and esports platform), Delysium (a player-owned blockchain game), and Mirror World (a game based on a digital model of real-world structures).
In the partnership, Galaxy will be responsible for sourcing gaming studios. Alameda Research will focus on providing sufficient accessibility and liquidity for the gaming projects’ token-based economies. Meanwhile, Republic Crypto will help guide consortium participants through token economic design and tokenization prior to an exchange listing.
(All information was provided by Blockworks)
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