Blockchain gaming company Forte gets $725 million in funding

Forte, a company based in the United States that offers blockchain solutions to game publishers, has secured $725 million in a Series B fundraising round.

With participation from many high-profile venture companies and investors, including Andreessen Horowitz (a16z), Tiger Global, Solana Ventures, Polygon Studios, Cosmos, Animoca Brands, and Warner Music Group, the round was co-led by Sea Capital and Kora Management.

Forte intends to extend its services and bring on more game publishers with the new funding. Forte’s platform is currently in private testing and is only available to guests. It promises to work with more than 40 game developers.

Blockchain integrated into video games

The Forte platform allows game developers to integrate blockchain technology into their games, allowing for features like non-fungible token (NFT) minting and selling, as well as payment rails.

According to a Forte representative, the company does not run its own blockchain. It instead collaborates with a number of Layer 1 (L1) and Layer 2 (L2) blockchains, including Ethereum, Cosmos, Solana, XRP Ledger, Polygon, and others, to allow game developers to build tokens and community economies.

“Today, we’re live in over 10 titles and have approximately 20 million monthly active players across Forte-powered games,” a representative said. “Each game chooses how and when it wants to transition from testing to full-fledged live operations on public L1 and L2 blockchains and networks.”

Forte and blockchain gaming startups

Forte’s objective, according to co-founder and chief executive Josh Williams, is to equip all game developers, big and small, to be successful in the blockchain gaming world.

The firm’s big Series B deal comes just six months after Griffin Gaming Partners led a $185 million Series A round at a $1 billion valuation.

This year’s overall fundraising for the company has surpassed $900 million thanks to the Series B round. Forte’s post-Series B round valuation was not disclosed, according to the representative.

A recent report from The Block stated that blockchain gaming startups have raised a significant amount of money. Nearly half of the $3.4 billion in venture capital deals completed in the previous month fell into this category.

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Source: https://bitcoinerx.com/blockchain/blockchain-gaming-company-forte-gets-725-million-in-funding/