Forte Raises $725 Million for Blockchain Gaming Plans
The blockchain services company has closed its Series B funding round.
Key Takeaways
- Blockchain gaming services company Forte has raised $725 million through a Series B funding round.
- Contributors to the funding round include Solana Ventures, Polygon Studios, Cosmos, and Animoca Brands.
- The company serves more than 40 game developer partners, who in turn have a total of 15 million players.
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Blockchain gaming solutions provider Forte announced today that it has raised $725 million in its latest funding round.
Several Companies Contributed Funding
Forte announced that this latest fundraiser has helped it raise more than $900 million in 2021. Though it did not report its current valuation, the announcement states that it also raised $185 million and reached a $1 billion valuation through an earlier Series A funding round.
This latest Series B funding round was led by Sea Capital and Kora Management, two notable venture capital firms.
Other contributors include Big Bets, Overwolf, Playstudios, Warner Music Group, zVentures, Griffin Gaming Partners, Andreessen Horowitz (a16z), and Tiger Global.
Several blockchain-related companies and projects also contributed to the funding round, including Cosmos, Polygon Studios, Solana Ventures, as well as Animoca Brands—the company behind the popular Ethereum game The Sandbox.
What Is Forte?
Forte allows game developers to integrate blockchain features such as NFTs and cryptocurrency transactions, as well as compliance features such as anti-money laundering (AML) and IP protection, into their products. It also offers interoperability and multi-chain support.
Forte co-founder and CEO Josh Williams said that the gaming industry is “at the forefront of a new technological wave, and blockchain gaming will be even bigger than all the shifts we’ve seen before,” noting that Forte aims to serve developers large and small.
The company has partnered with 40 game developers, who in turn have 15 million players. Forte’s most notable partners include Kongregate, a popular web game site founded in 2006, and Gallium Studios, an indie studio founded by Will Wright of SimCity fame.
Other Companies Also Pursue Crypto
Today’s news comes shortly after other gaming-related announcements. Steam has apparently disavowed cryptocurrency and NFTs, while discussion platform Discord, used heavily by gaming communities, has seen backlash from users over potential crypto integration.
GameStop and Ubisoft seem to be pursuing crypto plans as well, and those efforts have been met with much less controversy.
Disclosure: At the time of writing this author held less than $100 of Bitcoin, Ethereum, and altcoins.
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