Tetris Owner Playstudios to Launch Blockchain Gaming Division and Web3 Fund

0 99

playstudios

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.

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

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 26,209.02
ethereum
Ethereum (ETH) $ 1,586.92
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 211.83
xrp
XRP (XRP) $ 0.505304
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 1,586.36
cardano
Cardano (ADA) $ 0.244375
dogecoin
Dogecoin (DOGE) $ 0.060331
solana
Solana (SOL) $ 19.18
tron
TRON (TRX) $ 0.084698
the-open-network
Toncoin (TON) $ 2.12
polkadot
Polkadot (DOT) $ 4.01
matic-network
Polygon (MATIC) $ 0.516254
litecoin
Litecoin (LTC) $ 63.90
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 26,168.01
shiba-inu
Shiba Inu (SHIB) $ 0.000007
bitcoin-cash
Bitcoin Cash (BCH) $ 213.84
chainlink
Chainlink (LINK) $ 7.29
dai
Dai (DAI) $ 1.00
true-usd
TrueUSD (TUSD) $ 0.998834
leo-token
LEO Token (LEO) $ 3.66
uniswap
Uniswap (UNI) $ 4.24
avalanche-2
Avalanche (AVAX) $ 8.97
stellar
Stellar (XLM) $ 0.112061
monero
Monero (XMR) $ 144.32
okb
OKB (OKB) $ 43.09
binance-usd
BUSD (BUSD) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 15.07
cosmos
Cosmos Hub (ATOM) $ 6.97
hedera-hashgraph
Hedera (HBAR) $ 0.049516
filecoin
Filecoin (FIL) $ 3.18
crypto-com-chain
Cronos (CRO) $ 0.049944
internet-computer
Internet Computer (ICP) $ 2.94
lido-dao
Lido DAO (LDO) $ 1.45
maker
Maker (MKR) $ 1,413.73
aptos
Aptos (APT) $ 5.35
mantle
Mantle (MNT) $ 0.390084
quant-network
Quant (QNT) $ 85.22
vechain
VeChain (VET) $ 0.016577
arbitrum
Arbitrum (ARB) $ 0.819659
near
NEAR Protocol (NEAR) $ 1.09
optimism
Optimism (OP) $ 1.27
kaspa
Kaspa (KAS) $ 0.045210
rocket-pool-eth
Rocket Pool ETH (RETH) $ 1,721.89
aave
Aave (AAVE) $ 60.89
the-graph
The Graph (GRT) $ 0.087380
algorand
Algorand (ALGO) $ 0.096769
whitebit
WhiteBIT Coin (WBT) $ 5.21
usdd
USDD (USDD) $ 0.998555
immutable-x
ImmutableX (IMX) $ 0.585233
xdce-crowd-sale
XDC Network (XDC) $ 0.048824
frax
Frax (FRAX) $ 0.998440
blockstack
Stacks (STX) $ 0.461416
havven
Synthetix Network (SNX) $ 1.99
theta-token
Theta Network (THETA) $ 0.640731
elrond-erd-2
MultiversX (EGLD) $ 24.50
radix
Radix (XRD) $ 0.061496
eos
EOS (EOS) $ 0.560606
bitget-token
Bitget Token (BGB) $ 0.446805
the-sandbox
The Sandbox (SAND) $ 0.301607
tezos
Tezos (XTZ) $ 0.653708
injective-protocol
Injective (INJ) $ 7.10
bitcoin-sv
Bitcoin SV (BSV) $ 30.87
axie-infinity
Axie Infinity (AXS) $ 4.50
render-token
Render (RNDR) $ 1.48
decentraland
Decentraland (MANA) $ 0.297608
gatechain-token
Gate (GT) $ 3.86
fantom
Fantom (FTM) $ 0.188430
thorchain
THORChain (RUNE) $ 1.72
neo
NEO (NEO) $ 7.22
kava
Kava (KAVA) $ 0.623867
paxos-standard
Pax Dollar (USDP) $ 0.999973
pax-gold
PAX Gold (PAXG) $ 1,901.38
tether-gold
Tether Gold (XAUT) $ 1,904.02
ecash
eCash (XEC) $ 0.000024
flow
Flow (FLOW) $ 0.440314
curve-dao-token
Curve DAO (CRV) $ 0.517604
compound-ether
cETH (CETH) $ 31.84
frax-share
Frax Share (FXS) $ 5.91
kucoin-shares
KuCoin (KCS) $ 4.40
rocket-pool
Rocket Pool (RPL) $ 21.58
frax-ether
Frax Ether (FRXETH) $ 1,583.63
iota
IOTA (MIOTA) $ 0.148316
apecoin
ApeCoin (APE) $ 1.12
chiliz
Chiliz (CHZ) $ 0.057578
huobi-token
Huobi (HT) $ 2.43
first-digital-usd
First Digital USD (FDUSD) $ 0.999966
tokenize-xchange
Tokenize Xchange (TKX) $ 4.74
bittorrent
BitTorrent (BTT) $ 0.000000
mina-protocol
Mina Protocol (MINA) $ 0.371055
terra-luna
Terra Luna Classic (LUNC) $ 0.000062
klay-token
Klaytn (KLAY) $ 0.112694
casper-network
Casper Network (CSPR) $ 0.031634
gala
GALA (GALA) $ 0.013295
sui
Sui (SUI) $ 0.441521
rollbit-coin
Rollbit Coin (RLB) $ 0.104108
dydx
dYdX (DYDX) $ 1.88
coinbase-wrapped-staked-eth
Coinbase Wrapped Staked ETH (CBETH) $ 1,663.61
nexo
NEXO (NEXO) $ 0.552355