Blockchain-based gaming is one of the hottest trends in the cryptocurrency space. Voodoo is a French gaming company best known for its series hyper-casual. In the new year, it plans to allocate a large budget to the development of blockchain-based games.
Support for the gaming market
The company announced that it will invest over $200 million in the blockchain sector. The aim is to fund early-stage game studios. It will also create 20 internal divisions. The platform already has ten studios, internal and external, that are fully focused on the blockchain function.
Alex YazdiCEO of the Paris-based company, believes that blockchain technology is a great solution. He cited the fact that players have already become accustomed to buying digital assets:
By giving them true ownership of their digital assets and creating “deeper interactions” between players in the form of collecting, trading and selling digital assets in games, blockchain will enhance the experience and increase “fun and engagement. It will also enable players to profit from their assets, opening up a new “play-to-earn” model. Our vision is to make blockchain technology accessible even to casual mobile devices and help any young or promising studio succeed in this segment.
The Voodoo investment is additionally connected to the platform full stack. In addition to providing technological tools, data analysis integration and analytical support, it will enable other projects to create, test and launch their games.
Revenue from blockchain-based games
The entry of blockchain technology into the world of gaming was a revolutionary step. We wrote about the effects of combining these two worlds and what benefits players gain from it beyond entertainment in this article.
According to a report prepared by Blockchain Game Alliance (BGA), NFT-based games brought in $2.32 billion in revenue in the third quarter of this year, driven by the huge participation of technology companies and the ever-increasing number of players.
This shows that 22% of the industry’s total NFT transaction volume this quarter came from blockchain games. What’s more, the number of gaming-related wallets increased by 2,453%. NFT games created by Vietnamese studio Sky Mavissuch as Axie Infinitydominated this market in 2021, with turnover reaching USD 2.5 billion in September!
