French unicorn Voodoo to invest $200 mln in blockchain mobile games

PARIS, Dec 16 (Reuters) – French cell recreation maker Voodoo, which is backed by Goldman Sachs (GS.N) and Chinese language tech big Tencent (0700.HK), mentioned on Thursday it can make investments $200 million in 2022 on studios that develop blockchain-based cell video video games.

The blockchain know-how, which has underpinned the latest rise of digital property resembling cryptocurrencies and non-fungible tokens (NFTs), is now drawing the curiosity of the booming online game business.

“Blockchain will particularly disrupt gaming, as gamers are already used to purchasing digital property,” mentioned Voodoo’s chief govt, Alex Yazdi.

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“This know-how will give gamers true possession of their digital property, creating deeper interactions between gamers – accumulating, buying and selling, promoting in-game digital currencies and recreation property – which can enhance enjoyable and engagement.”

A blockchain is a digital platform for recording and verifying transactions. It traces its roots to bitcoin, the best-known digital cryptocurrency.

It may also be outlined as a database that’s shared throughout a community of computer systems. As soon as a file has been added to the chain it is extremely troublesome to vary. To make sure all of the copies of the database are the identical, the community makes fixed checks.

Voodoo, whose cell video games embody Helix Soar and Balls VS Blocks, mentioned the $200 million can be used to fund early-stage gaming studios and create 20 inner studios.

The Paris-based firm reached unicorn standing — startups valued greater than $1 billion — final 12 months and acquired Israeli peer Seashore Bum in September. learn extra

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Reporting by Mathieu Rosemain; Enhancing by Leslie Adler

Our Requirements: The Thomson Reuters Belief Ideas.

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