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Homepage / News May 30, 2018 70 views

$30 Million Crypto Startup Fund Launched By Mobile Game Maker

$30 Million Crypto Startup Fund Launched By Mobile Game Maker

A maker of mobile games primarily based in Japan has launched a $30 million investment fund focused on cryptocurrencies and blockchain.

Gumi is a maker and publisher of games, like titles such as Brave Frontier and&nbspFinal Fantasy: Brave Exvius (on which it served as a collaborator along with Square-Enix and yet another firm, Alim).

The new fund, according to a report from VentureBeat, is getting led by Gumi founder and CEO&nbspHironao Kunimitsu as properly as&nbspMiko Matsumura, the founder of the Evercoin cryptocurrency exchange. Law firm White & Case LLP advised on the fund’s formation, according to a separate announcement.

“We decided to create a fund that enables us to engage more directly with early-stage blockchain and cryptocurrency startups, in order to be more successful partners and have a genuine effect in the market place,” Kunimitsu told the publication in a statement.

And even though the fund’s debut is new, it’s currently created some investments in the space. These include stakes in Basis, the business behind one particular of many “stablecoins,” and &ndash perhaps much less surprisingly &ndash Robot Cache, which is seeking to build a blockchain-powered competitor to Steam, the gaming distribution platform.

Matsumura told GamesBeat that the fund would invest in both equity and tokens straight.

“We like early stage. We invest in equity or tokens. We like financial solutions. We like game technologies, and we think there is a powerful connection amongst gaming and crypto,” he was quoted as saying.

No matter whether that stronger confluence of gaming and blockchain comes to fruition remains to be noticed, but other giants in the gaming ecosystem, which includes developer Ubisoft and gaming engine Unity, are eyeing the tech for prospective applications.

Image by means of Shutterstock

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Published at Wed, 30 Could 2018 16:35:44 +0000

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