Voodoo, a French startup, has announced plans to invest significantly in blockchain-powered mobile games. According to the company, it represents a $200 million investment over the next few years.
The year 2021 was a watershed moment for cryptocurrency gaming, with Axie Infinity popularizing the play-to-earn model. Certain companies, such as Mythical Games, have raised significant funding and are developing mainstream crypto games.
In a tangential manner, NFT fantasy sports games could considered crypto games. Sorare raised a $680 million Series B round in this space, while Dapper Labs, the company behind NBA Top Shot, raised $250 million to expand in the NFT space.
What is According to the company’s press release, it intends to invest heavily in blockchain-based mobile games in the near future.
Voodoo Mobile Games
Voodoo is best known for its casual games, which accumulated over 5 billion downloads and 300 million monthly active users. Helix Jump, Crowd City, Hole.io, and Paper.io 2 are all examples of Voodoo games.
The company operates its own studios but also serves as a publisher for other developers. The secret sauce of Voodoo is its technology stack, which optimizes distribution, average revenue per user, and iteration.
And when it comes to crypto games, the mobile game expert is not content to stand still. Voodoo already has ten internal studios dedicated to developing blockchain-based games. It plans to open another 20 studios dedicated to crypto games next year.
Voodoo acquired eight businesses in 2021. As a result, it appears as though new crypto game studios could be formed through acquisitions.
“Only a few times in our lives do we witness a technological breakthrough that completely transforms an industry. Blockchain technology will have a significant impact on gaming, as playersalready accustomed to purchasing digital assets. This technology will provide players with true ownership of their digital assets, allowing for deeper interactions between them — collecting, trading, and selling in-game digital currencies and game assets — thereby increasing fun and engagement. This will also enable players to profit from their assets, creating a new “play-and-earn” model, according to Voodoo CEO Alex Yazdi.
As a result, you can anticipate tradable NFTs in future Voodoo games. They may have monetary value beyond the games, as users may be able to purchase and sell them on online marketplaces.
Along with its existing stack, Voodoo intends to develop a reusable blockchain stack for managing tokens, creating NFTs, creating wallet addresses, and integrating with layer 1 blockchains (such as Ethereum) and layer 2 solutions to reduce transaction costs.