Fun

Tetris Owner Playstudios to Launch Blockchain Gaming Division and Web3 Fund

News Feed - 2022-08-05 08:08:12

Tetris Owner Playstudios to Launch Blockchain Gaming Division and Web3 Fund


Playstudios, a mobile gaming company, has recently announced it is diving into the world of Web3 gaming. The company is launching a blockchain gaming division that will introduce the concept of “rewarded play” to its users, who already enjoy real-world rewards for playing its games. Playstudios will also invest $10 million in Web3 gaming companies. Playstudios to Embrace Web3 and Blockchain Tech


Playstudios, a Las Vegas-based mobile gaming company that has received more than $300 million in funding, is diving into the world of blockchain and Web3 gaming. The company, which owns games like Tetris, is launching a blockchain gaming division called Playblocks, that will add blockchain-based incentives to its “rewarded gaming” program.


About this move, Andrew Pascal, founder and CEO of Playstudios, told Techcrunch:


As we enter into the Web3 space, we’ve kind of been doing play-to-earn for 10 years, so I’d argue we’re the pioneers in the world of play. We’ve spent a lot of our energy thinking about how to reward players in our games.


The new division will be built around the acquisition of Wonderblocks, a company that deals in offering play-to-earn services to third parties. Playblocks will also ostensibly benefit from the technical knowledge of Forte as part of a strategic partnership. Forte, which raised $725 million last year, provides blockchain, token, and NFT services to gaming companies, facilitating the inclusion of these technologies in new games. $10 Million Web3 Gaming Fund


Playstudios is setting up a fund to invest in Web3 gaming initiatives, seeding it with $10 million. This initiative, called the “Future Fund,” will allow Playstudios to make investments in emerging companies that also want to integrate blockchain into their business model, bringing gamers closer to the tech.


The first investments of the fund, whose amounts were not specified, were made in Forte, the company mentioned above, and the Kryptomon Company, a Pokemon-like themed game that allows users to manage and train their personal NFT creatures.


While other sectors of the crypto economy have shrunk, the Web3 gaming sector seems to have thrived, with several VCs and organizations investing in these initiatives recently. Griffin Gaming Partners announced the launch of a $750 million Web3 gaming fund in March, and A16z also launched a $600 million Web3 gaming fund in May. Tags in this story andrew pascal, Blockchain, forte, future fund, Gaming, Kryptomat, playstudios, Web3


What do you think about Playstudios’ new Web3 division? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Luxury Retailer Tiffany & Co. Announces Jeweled Cryptopunk Pendants Tied to NFTs BLOCKCHAIN | 4 days ago Funko Partners With Entertainment Giant Paramount to Drop Avatar Legends NFTs BLOCKCHAIN | 6 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMicrosoft Gives Grant To Blockchain-Based Web3 Game StarHeroes As Historic Partnership Gets Underway Next articleBitcoin, Ethereum Technical Analysis: ETH Rebounds on Friday, Climbing Above $1,700 Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItBitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals


A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

News Feed

Germany Auctions Bitcoin Seized From Darknet: Bargain Hunters Flock to Buy Cheap BTC
Germany Auctions Bitcoin Seized From Darknet: Bargain Hunters Flock to Buy Cheap BTC German authorities are auctioning bitcoin seized from the darknet in cybercrime cases. The auct
President of Panama Partially Vetoes Crypto Law Passed by National Assembly
President of Panama Partially Vetoes Crypto Law Passed by National Assembly Laurentino Cortizo, president of Panama, has exercised his veto powers to make a series of objections to
XRP rockets 26% as Ripple execs hail $125M penalty as ‘victory’
Ciaran Lyons7 hours agoXRP rockets 26% as Ripple execs hail $125M penalty as ‘victory’XRP’s price has surged 26% as the Ripple vs. SEC case appears to be nearing its final stages, with no signs suggesting XRP will
Turner Wright4 hours agoChangpeng Zhao may not leave the US pending court review, says judgePending a motion for review filed by the U.S. government, the former Binance CEO will not be allowed to return to his home in th
Tiger King’s Archnemesis Big Cat Rescue Accepts Bitcoin
Tiger King"s Archnemesis Big Cat Rescue Accepts Bitcoin The number one show on Netflix in the U.S. right now is a television series called “Tiger King: Murder, Mayhem and M
$99 AI necklace puts a ‘friend’ around your neck
Tom Mitchelhill4 hours ago$99 AI necklace puts a ‘friend’ around your neckThe tech entrepreneur who built a COVID-19 tracker as a teen in 2020 has now launched a new AI-powered necklace to combat loneliness. Some say
Technical Analysis: QNT, LUNA Lead Monday’s Crypto Rebound
Technical Analysis: QNT, LUNA Lead Monday"s Crypto Rebound Following a bearish start to the week, the crypto market rallied throughout the afternoon, with quant (QNT) and terra (LU
Boxing Legend Mike Tyson Says He’s ‘All in’ on Solana Crypto — Asks Fans How High SOL Will Go
Boxing Legend Mike Tyson Says He"s "All in" on Solana Crypto — Asks Fans How High SOL Will Go Boxing legend Mike Tyson, aka “Iron Mike,” says he is “all in o
Bitcoin investment fund opens doors to EU citizenship
Ezra Reguerra11 hours agoBitcoin investment fund opens doors to EU citizenshipA new fund offers a way to gain citizenship in Portugal by indirectly investing over $500,000 into Bitcoin.3407 Total views4 Total sharesListe
‘Clear runway’ opens for all Bitcoin ETF approvals in Jan — Analysts
Jesse Coghlan7 hours ago‘Clear runway’ opens for all Bitcoin ETF approvals in Jan — AnalystsThe SEC’s delays on two spot Bitcoin ETFs could mean it’s lining up to approve all pending applications in one swoop,
Cardano Founder Reveals What Will Onboard 3 Billion New Users Into Crypto
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Onchain Research Shows FTX’s Falling BTC, ETH, Stablecoin Balances ‘Suggest Cracks Had Formed as Far Back as June’
Onchain Research Shows FTX’s Falling BTC, ETH, Stablecoin Balances ‘Suggest Cracks Had Formed as Far Back as June’ While the analytics firm Nansen published a report that poi