Blockchain Game Solana Will Receive US$100 Million

Rancakmedia.com – A new fund for the solana blockchain gaming industry has been created by a group of investors. The group will invest US$100 million to drive the blockchain game creation movement in the Solana ecosystem.

This award is intended to support Solana's most inventive blockchain game concept. Investors include Solana Ventures, blockchain investment arm Solana, crypto exchange FTX, and venture capitalist Lightspeed.

Amy Wu, a partner at Lightspeed, expressed delight at the joint venture and the goals it aims to achieve through the investment.

“We want to help an amazing team, both in the crypto and gaming sector. Game, according to Wu, is one application the best for NFT and one of the strongest potential to attract billions of users to web3.

He praised the level of development going on in the Solana blockchain. There are already over a thousand active development teams in just two years after it started. 

Not cans, new money immediately moved investment. Solana-based gaming startup Faraway raised US$21 million in its latest fundraising round led by this new fund.

Faraway has raised US$9 million from investors, including Lightspeed, earlier this year. The fundraiser is currently being joined by a16z, Sequioa Capital, Pantera Capital, Jump Capital and Solana.

Faraway was one of the first organizations to build blockchain-based games with a multiplayer component on top of Solana. This offers Faraway an opportunity to gauge the reaction to future blockchain games.

First-person shooter Mini Royale: Nations is the decentralized economic component of Faraway's first game. This game can be played in a browser for easy access for users with limited computers.

Alex Paley, CEO of Faraway, offers his opinion on the future of blockchain games and Faraway's work in the sector. He claims blockchain technology will open up possibilities for a player-driven open economy and open up virtual world waves.

“Our goal is to build engaging and engaging games with an open economy, so that players have genuine ownership of in-game assets and have a voice in future game improvements,” said Paley.

Conclusion

Investors include Solana Ventures, the blockchain investment arm of Solana, and venture capitalist Lightspeed. The group will invest US$100 million to drive the blockchain game creation movement in the Solana ecosystem.

Solana-based gaming startup Faraway raised US$21 million in its latest fundraising round led by this new fund. Alex Paley, CEO of Faraway: “Our goal is to build engaging, engaging games with an open economy.”