The Forte platform, which provides blockchain solutions for game publishers, has raised $725 million in a Series B funding round.
Sea Capital and Kora Management led the Series B funding round. Andreessen Horowitz (a16z), Tiger Global, Solana Ventures, Razer, Cosmos, Animoca Brands, Huuuge Games, Warner Music Group and other investors also participated in the investment round.
Forte will use the funds raised to expand services and exit the testing regime. Currently, the platform is available by invitation only.
The gaming industry
According to the press release, the startup cooperates with more than 40 game developers; including Riot Games, Electronic Arts, and Rockstar Games. Forte helps them integrate blockchain technology and non-fungible token (NFT). Moreover, the platform has more than 15 million players across partner games.
Forte CEO and co-founder, Josh Williams, said that in the history of the gaming industry; games have undergone significant changes in their business models and revenue models, thanks to feedback from the players. Moreover, with annual revenue of almost $180 billion, it is the largest form of entertainment in the world.
In addition, according to Williams, blockchain games will be even bigger than anything people have seen before. “Forte’s mission is to prepare all game developers, big and small-whether you already have an AAA title with millions of players or you’re building a blockchain game from scratch-to succeed in this new landscape,” he added.
NFTs and blockchain technology
In May, Forte raised $185 million in a Series A investment round led by Griffin Gaming Partners. Therefore, in 2021, the volume of Forte financing exceeded $900 million.
Recall that previously in November, the Hong Kong gaming platform The Sandbox closed a $93 million funding round. SoftBank’s Vision Fund 2 led the Funding round. True Global Ventures, Galaxy Interactive, SCB 10X, Polygon Studios, Animoca Brands and others participated in the investment.
Earlier in October, Animoca Brands, which acquired Pixowl – the developer behind The Sandbox, raised $65 million. The company’s valuation reached $2.2 billion. Investors included Tron founder Justin Sun, Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings and others.