Gala Games and C² Ventures Launch $100M Fund to Accelerate the Development of Blockchain Gaming

LAS VEGAS, Dec. 13, 2021 /PRNewswire/ -- Gala Games, the successful blockchain gaming platform, today announced the launch of a $100 million blockchain gaming fund in partnership with C² Ventures, a new crypto investment firm founded by Ciara Sun, the former Head of Listings and Blockchain Investments at Huobi Global.  The joint fund will invest in game developers and emerging projects building with blockchain technology, including but not limited to play-to-earn, GameFi, metaverses, and other decentralized gaming solutions.

"As an industry, blockchain gaming needs a clear and concise way as a whole to be accessible to a massive audience," said James Olden, Chief Strategy Officer at Gala Games. "Through our new fund with C² Ventures, we aim to support a new class of developers who can build genuinely entertaining games powered by blockchain technology to millions."

In addition to funding, portfolio projects will receive guidance, including NFT and pre-sale strategies, token design, in-game economies, marketing and community engagement, monetization and distribution support, and P2E economies and development, from the Gala Games and C² Ventures teams.

The launch of the blockchain gaming fund marks the first venture fund for both Gala Games and C² Ventures. Sun recently founded C² Ventures after heading up the listings and blockchain ventures team at Huobi Global, one of the world's leading digital asset exchanges.

"While at Huobi, I learned the ins and outs of working with emerging projects and bringing new, innovative projects to market," said Ciara Sun. "With Gala Games by our side as a trusted collaborator, we look forward to finding and nurturing the next great blockchain gaming projects and helping them build worldwide communities."

Gala Games recently selected Huobi Global as its Preferred Exchange Partner. Huobi Global will provide its expertise, advising Gala projects on marketing, community building, and other core components of Web3 growth, as well as work closely with teams to streamline future token listings. Gala Games listed its GALA token on Huobi Global in November 2021.

Gaming is the fastest-growing form of entertainment in the world—double the size of film and music combined. According to research firm DFC Intelligence, nearly 40 percent of the world's population is gamers. With global gaming revenue expected to reach $200 billion in 2024 (Newszoo), the space is ripe with growth thanks to the popularity of in-game purchases or microtransactions. Now, a whole new era of player ownership is being ushered in with the advent of blockchain-backed in-game assets.

About Gala Games

Founded by Eric Schiermeyer, the co-founder of Zynga, Gala Games is a video game company that uses blockchain as an integral part of its tech stack. Launched in 2019 and powered by the world's largest independent node network, Gala Games has been built to give power to the gaming community. As the first blockchain gaming platform, Gala Games has created an ecosystem where players can own their assets and be rewarded for their participation.

Gala Games is a company that makes blockchain games you want to play. Using blockchain technology to create play-to-earn economy models that take gaming incentives and rewards to new heights.

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About C² Ventures

C² Ventures is a multi-chain crypto investment firm led by Ciara Sun, the former Head of Listings and Blockchain Investments at Huobi Global. Sun has rich experience in strategic consulting and corporate management working across multinational consulting companies such as Boston Consulting Group and Ernst & Young. C² Ventures takes a chain-agnostic approach, making early-stage investments across all major layer 1 and layer 2 ecosystems. C² Ventures is focused on empowering builders with the capital and operational expertise to build and scale the next generation of Web3 and metaverse applications.

SOURCE Gala Games