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Tetris Owner Playstudios to Launch Blockchain Gaming Division and Web3 Fund

Playstudios, a mobile gaming company, has recently announced it is diving into the world of Web3 gaming. The company is launching a blockchain gaming division that will introduce the concept of “rewarded play” to its users, who already enjoy real-world rewards for playing its games. Playstudios will also invest $10 million in Web3 gaming companies.

As we enter into the Web3 space, we’ve kind of been doing play-to-earn for 10 years, so I’d argue we’re the pioneers in the world of play. We’ve spent a lot of our energy thinking about how to reward players in our games.

Playstudios is setting up a fund to invest in Web3 gaming initiatives, seeding it with $10 million. This initiative, called the “Future Fund,” will allow Playstudios to make investments in emerging companies that also want to integrate blockchain into their business model, bringing gamers closer to the tech.

The first investments of the fund, whose amounts were not specified, were made in Forte, the company mentioned above, and the Kryptomon Company, a Pokemon-like themed game that allows users to manage and train their personal NFT creatures.

What do you think about Playstudios’ new Web3 division? Tell us in the comments section below.

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