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Big Money Apes Into Blockchain Gaming With $725M Fundraising for Forte
Forte will use the funding, which brings its total capital raised this year to more than $900 million, to expand its products and services.
Updated May 11, 2023, 7:06 p.m. Published Nov 12, 2021, 9:25 p.m.
Major crypto players Andreessen Horowitz (a16z), Cosmos, Polygon Studios and Solana Ventures were among those that have invested an additional $725 million in funding to close a Series B round for the blockchain gaming platform Forte.
- The round was led by Sea Capital and Kora Management with a number of game and media publishers also participating, including Animoca Brands, Big Bets (Huuuge Games), Overwolf, Playstudios, Warner Music Group and zVentures (Razer).
- Funding will be used to expand Forte’s products and services, as well as speed up the onboarding of emerging game and content publishers.
- Forte’s platform is used by gaming publishers to incorporate blockchain technology into their games. The platform also allows non-fungible tokens (NFTs) to be minted and sold.
- In May, Forte raised $185 million in a Series A round at a $1 billion valuation led by Griffin Gaming Partners.
- This recent funding brings Forte’s total capital raised this year to more than $900 million.
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Read more: Polygon Launches Unit to Grow Blockchain Gaming, NFTs
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Foundation behind restaking protocol EigenLayer plans bigger rewards for active users
An Incentives Committee would direct programmatic token emissions, focusing allocations on participants that secure AVSs and contribute to the EigenCloud ecosystem.
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- The Eigen Foundation has unveiled a governance proposal aimed at ushering in new incentives for its EIGEN token, shifting the protocol’s reward strategy to prioritize productive network activity and fee generation.
- Under the plan, a newly formed Incentives Committee would manage token emissions, prioritizing participants who secure Actively Validated Services and expand the EigenCloud ecosystem.
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