San Francisco based Forte has just been given $100 million by Ripple to invest in Blockchain gaming companies. Gaming is seen as an attractive sector that can use Blockchain and Digital Assets. It is a $140Billion industry and growing fast.
Chinese company Tencent have been active buyers of online gaming companies, so offers an exit to many emerging firms in the gaming sector according to UBS. China looks to be well positioned as it expects its gaming industry to grow to three times its current size by 2030. Tencent distributes some of the most played games in the industry and is the largest video game company in the world based on game sales. In 2018 over $1.3billion was invested into Blockchain projects from Venture capitalists. Considerably more than in 2017.
This trend is continuing according to Tim Bird, corporate partner at lawyers Field Fisher, who claims that “Blockchain is still one of the Top 5 sectors VCs are investing in at the beginning of 2019”.
Meanwhile, we are seeing Initial Coin Offerings (ICOs) and Security Token Offering (STOs) being used to help finance Blockchain powered businesses which, on the whole, are far better structured and thought through propositions compared to those seem a year ago.
