As a seasoned crypto investor with a keen eye for promising opportunities, I find the recent $10 million web3 gaming investment fund launched by Saakuru Labs and Memecore to be an intriguing development. Having witnessed the rapid growth of blockchain gaming over the past few years, I can’t help but see this as a strategic move that could potentially yield significant returns.
3D gaming studio and publishing company, Saakuru Labs, along with the meme-based cryptocurrency platform, Memecore, have announced the creation of a $10 million venture capital fund dedicated to web3 gaming projects.
As per a statement made on October 17, these two companies plan to put money into and purchase meme-based communities and games. Their intention is to incorporate these assets into the Saakuru and Memecore ecosystems. This partnership aims to broaden the decentralized application (DApp) ecosystem within the Saakuru layer-two protocol and boost activity on Memecore’s blockchain network.
The announcement was made after Saakuru’s layer two handled over five million transactions per day in July. In May, the company had previously announced a strategic partnership with Animoca Brands, who revealed plans to move some of their games onto the scalability layer. This was also preceded by a similar partnership with Japanese gaming blockchain Oasys, which integrated games such as GOGA, Galaxy Blitz, SingSing, and Crypto Run.
The fund intends to use its $10 million investment towards achieving its goals, primarily focusing on expanding the gaming ecosystem within Saakuru, which in turn increases the value locked in Saakuru. Additionally, Saakuru Labs will offer comprehensive assistance to the chosen projects, providing incubation, development resources, and publishing opportunities for game studios.
As a crypto investor, I’m excited about the joint commitment by Saakuru Labs and Memecore to prioritize early-stage web3 gaming projects. These initiatives will foster development from concept to launch, and I’m looking forward to seeing the results. Shubh Varma, Co-Founder and CEO of Hyblock Capital, also expressed his enthusiasm for this collaboration.
Through our solid standing in the blockchain gaming sector, this alliance with Memecore propels us forward in creating innovative gaming ventures even faster. This partnership provides us with additional resources to empower leading game creators, enhancing not only our own ecosystem but also that of Memecore.
Memecore has taken this step before. In fact, they unveiled plans for a $10 million fund back in July, intended to promote the growth of their memecoin ecosystem.
The two businesses appear determined to gain control over the rapidly expanding web3 gaming market as much as they can. According to research by Global Market Insights, the value of this industry was estimated at $26.38 billion in 2023, and is projected to experience a yearly growth rate of 19.2% from now until 2032.
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2024-10-17 18:08