Global game developer Playstudios has launched a new blockchain division to enter the world of Web3 and create new P2E experiences for its players and users.
Playstudios has shared a post informing about the creation of PlayBlocks. It is about their new blockchain division from which it will focus on strengthening its mobile gaming ecosystem, Implementing blockchain technology to create new experiences for its users.
The company said PlayBlocks will reinforce its leadership as a pioneer in helping players earn rewards while playing.
Its founder and CEO, Andrew Pascal, indicated that The new blockchain division is part of its growth strategy towards the Web3 industry, from which it will be able to implement new economic models to offer more attractive and rewarding experiences to its players.
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PlayStudios joins forces with Forte and acquires WonderBlocks
As part of its blockchain strategy, Playstudios has acquired blockchain-based gaming loyalty platform WonderBlocks, from which it plans to implement the potential of blockchain in its gaming ecosystem.
Additionally, the company has partnered with Forte, a blockchain infrastructure provider focused on video game development, which will also provide Playstudios with the necessary tools to enrich its ecosystem and strengthen its leadership in the gaming world.
Playstudios is the developer of the popular game Tetris and other popular titles that allow users to monetize their gaming sessions. The company has raised more than $300 million in investment rounds since its creation.
Future Fund, a new investment fund for Web3 games
In addition to all this, the gaming company Playstudios is also creating a new investment fund from which it will support the development of blockchain-based video games.
According to the release, the new investment fund, called “Future Fund,” has an initial capital of 10 million dollars, which will be used to support companies and projects in the blockchain and Web3 industry, which help shape the future of Play to Earn (P2E) game mechanics.
The gaming industry is moving closer to Blockchain and Web3
The gaming industry, which generated more than $159.000 billion in 2020, according to the Global Games Market Report, is becoming one of the main gateways for thousands of new users to the crypto world.
Currently, important companies in the video game industry, such as Atari, Square Enix, Electronic Arts, Etermax, Ubisoft y Zynga, among others, have already shown interest in blockchain. The latest of these, Zynga, a major online mobile game developer, has also partnered with blockchain platform Forte to implement blockchain technology within its digital gaming ecosystem.
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