Solana to invest $150 million in partnership with Forte for building game applications
Forte is a company that provides end-to-end solutions for token-based game economies and NFTs that benefit the community. Griffin Gaming, is one of top venture capital firms mainly focused on investing in the global gaming market. Solana Ventures is the creator of the Solana blockchain ecosystem that is popular in the gaming sector.
Solana Ventures, Forte and Griffin have together invested $150 million fund in the global gaming market, Bitcoin.com reported. The investment aims to :
- Invest in Web 3 game makers for developing decentralized games on the Solana blockchain.
- Invite and attract developers to build gaming applications and bring more gaming-related developments on top of Solana
- Web3 games basically allow users to engage with the virtual space by owning assets.
- In these games, players can freely trade goods and services around the world with each other and can participate in community economies that reward creativity, collaboration, and skill.
- They are able to generate opportunities for establishing a market for these products and thus leading to the creation of a self-sustaining economy in this way.
- These games usually use non-fungible tokens (NFTs), that work on the transparency and security of the digital ledger of blockchain, to verify unique digital items
The CEO of Forte Josh Williams said about the partnership, that prevalence of NFTs and other blockchain technologies have helped game developers to offer their customers real property rights while creating prospering and self-sufficient markets within their games. Forte provides tools for developers to include blockchain elements in games through an already established framework instead of starting from the beginning.