Solana Ventures, Lightspeed Venture Partners, and FTX have announced that they have launched a $100 million investment initiative in web3-based gaming technologies.
Investments to be made within the initiative’s scope will be allocated to blockchain-based game and technology developments. The first beneficiary of the startup was Faraway, which is preparing to launch the blockchain-based Mini Royale: Nations, with an investment of $21 million recently. Faraway will use Solana blockchain technology in his new game. Mini Royale: Nations is the first game to use Solana’s technology in this sense.
Anatoly Yakovenko, CEO of Solana Labs, said in a statement:
“In the last few months we’ve seen talented game builders leave their jobs at Riot, EA, Scopely, and other established gaming firms to build Web 3 games on Solana. We are excited to collaborate with Lightspeed and FTX to support and accelerate this new wave of builders.”
Amy Wu, a partner at Lightspeed Venture Partners, added to the statement:
“High-performance blockchains like Solana are now capable of delivering the kind of web2 experiences gamers expect while providing the advantages of decentralized Web 3 systems. We are excited to partner with FTX and Solana Ventures to play a leading role in growing this ecosystem.”
Gaming companies can speed up their transactions using platforms like Solana and speed up their work associated with blockchain transactions on platforms like Ethereum. It seems that the size of the investments will significantly affect the future of the industry.