GameFi Based Software Development Kit Startup Raises Investment as Play-to-Earn Economy Expands
Colizeum, a software development kit startup that provides SDK for mobile game developers and Play-2-Earn economy without prior knowledge in blockchain development, raised $8.4 million led by Deribit, SevenX Ventures, Axia8, LD Capital, and Genblock Capital. Other participants included TPS Capital, Momentum6 (Lumen Capital Group), DWeb3, X21, Profluent Ventures, Good Games Guild (GGG), CRT Capital, Au21 Capital, Pluto Digital, Basics Capital, and Tokenomik.io.
SDK allows game developers to add tokenized game mode monetization on top of their existing monetization or build blockchain native games. The blockchain-centric game development toolset represents a macro-level collaboration opportunity due to class-leading modular game-building tools.
Davis Ziedins, the co-founder at Colizeum, said:
Last year brought significant changes to the mobile gaming industry, which led to game developers of every size to discover new monetisation methods and user accession tactics in order to continue to compete in the current market.
The Rise and Rise of GameFi and Play-2-Earn
Traditional games can be reinvented in Play-2-Earn with interactions that connect rather than separate players. The digital world and reality are gradually becoming indistinguishable from each other as the conventional gaming business has developed and individuals have started to spend more time online. However, traditional games have left substantial holes in their capacity to link them to their environment in a more coherent experience, even though many gamers were already acclimated to engaging in many virtual worlds.
This distinction soon drew attention to the metaverse notion. Players are urged to do more than engage in thrilling gameplay since the game is more than a game. Indeed, with the advent of the blockchain, the play-2-earn has expanded to encompass real-world economics, replete with considerable earning potential, such as the capacity to produce resellable user-generated content (UGC) — capacities previously unavailable in the game industry. Many platforms are attempting to deliver their unique offers in the Play-2-Earn area in the aftermath of Axie Infinity’s breakout success which has led to the explosion of investments in the gaming industry.
In 2021, Ethereum witnessed a rise in popularity among DeFi and GameFi apps, including native decentralized exchanges like Uniswap becoming mainstream and the popularity of games like Decentraland, The Sandbox, and others.
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