Voodoo Plans Entry into Blockchain Gaming with $200M

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by Babafemi Adebajo · 2 min read
Voodoo Plans Entry into Blockchain Gaming with $200M
Photo: Unsplash

The company’s full-stack platform and technical know-how will be available for blockchain-gaming studios to benefit from.

French unicorn Voodoo has unveiled plans to invest about $200 million in blockchain gaming in 2022. Given the growing interest in cryptocurrencies and non-fungible tokens, the world of GameFi is booming and Voodoo is just positioning to take advantage.

Funds to Go Into Blockchain Gaming Studios

Using this fund, the company plans to invest in early-stage blockchain gaming studios with prospects. Additionally, there are also plans to create 20 new studios that’ll work on blockchain games in 2022.

Co-Founder and CEO of Voodoo, Alex Yazdi believes blockchain is a technological breakthrough that can potentially transform the gaming industry. With players already buying assets, Yazdi noted, “This technology will give players true ownership of their digital assets, creating deeper interactions between players which will increase fun and engagement.”

Going by Yazdi’s statement, players will be able to collect, buy, and sell in-game tokens and assets. Consequently, Yazdi pointed out that the games will use the play-to-earn model. The play-to-earn model allows gamers players would be able to make extra income from their gaming assets. Also, Yazdi believes that his company can help to bring the blockchain paradigm to the general users. “Our vision is to help any young or promising studio reach success in this segment,” he said.

Voodoo’s Full Stack Platform

Per the announcement, the company’s full-stack platform and technical know-how will be available for blockchain-gaming studios to benefit from. The full-stack platform features game creation and token economics coaching, growth capabilities, blockchain tech stack, and data analytics integration.

With game creation and token economics coaching, Voodoo participates in the ideation process of studios and in helping them design the right strategy. Also, regarding growth capabilities, Voodoo can take care of the user acquisition and ad production to scale the new games.

In addition, the full-stack platform has a blockchain tech stack that’ll make token and NFT creation, layer 1 and 2 blockchain integration, and wallet management easy. Lastly, the stack has a data analytics integration. With this, Voodoo will help studios structure their data and integrate analytics tools.

Blockchain Gaming in 2022

Voodoo is not the only company to have raised such an amount for blockchain gaming. Blockchain gaming companies raised about $476 million over the first half of 2021.

More recently, Sorare raised $680 million, Animoca raised $65 million in October while Legendary Video games raised $ 150 million to name a few. Come 2022, the blockchain gaming industry can get set for some massive gaming experience come 2022.

Blockchain News, Business News, Gaming News, Investors News, News
Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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