Crypto’s Growth in The Gaming Industry: Griffin Gaming Partners Seals a $750M Deal on Web3
- Griffing Gaming raises a considerable amount in the second round of funding.
- The company itself invests in growth rounds.
- The co-founders are predicting huge success and opportunities in this industry.
The promotion of crypto in the gaming industry started with FTX’s launch of its gaming unit. Recently, Griffing Gaming Partners reported that it had closed an oversubscribed second funding round with a commitment of almost $750 million. The fund has been raised to focus on the gaming industry extensively. However, the co-founders of Griffin Gaming said that currently, it has 16 investments in records in connection to Web 3, and it also makes up the majority of the raised fund.
Griffin Gaming was established in 2019, and the firm now makes investments in the growth funding round in Web 3 organisations related to gaming. It acquires equity for gaming content, programming framework, and social platforms and has invested in companies like Forte and Discord.
Tuosto said, “[Web 3] is one of our central theses from a macro perspective within games,” “It’s our view that the enablement of digital asset ownership within games may be the single most important technological unlock in the history of games.”
Coindesk reported that the funding for this second round in Griffin Gaming came from the contributions of reputed institutions, university financing, family offices, sovereign wealth funds and strategic partners in the industry.
In a press release, Sanderson has said that the lines between gaming, media, sport and social connectivity are now unrecognisable. “By seeing more than 1,300 qualified investment opportunities a year, we get a bird’s eye view into the industry and what it will take to succeed in the next phase of interactive entertainment across platforms, genres and demographics”, he further added.