US-based blockchain gaming technology developer Forte raised $750m on Friday in a series B round backed by multiple gaming and media corporates, taking its total funding about $935m this year alone.
Digital entertainment and blockchain technology developer Animoca Brands, record company Warner Music Group, gaming studios OverWolf, Playstudios and Huuuge Games and blockchain developers Cosmos, Polygon Studios and Solana all took part in the round, the last through its Solana Ventures vehicle.
Private equity firm Sea Capital and Kora Management co-led the round, which also featured Andreessen Horowitz, Tiger Global Management and Griffin Gaming Partners.
Founded in 2019, Forte provides blockchain technology which enables game developers to create internal economies for video games, a sector that is set to see a rise in monetisation potential as non-fungible tokens (NFTs) are further integrated.
Griffin Gaming Partners led a $185m series A round for the company that closed in May this year, investing alongside Andreessen Horowitz, Union Grove Venture Partners, Battery Ventures and Canaan at a valuation of $1bn.
Josh Williams, Forte’s chief executive, said: “The games industry has grown at each turn as it aligns more and more closely with players, and today it is the largest form of entertainment globally – larger than film and music combined – with nearly $180bn in annual revenue.
“We believe we are at the forefront of a new technological wave, and blockchain gaming will be even bigger than all the shifts we have seen before. Forte’s mission is to prepare all game developers, big and small – whether you already have a AAA title with millions of players or you are building a blockchain game from the ground up – to be successful in this new landscape.”
