Forte Adds $725 Million in Funding to Push Blockchain Gaming Forward
Blockchain company, Forte, raises $725 million in a Series B led by Sea Capital and Kora Management.
Blockworks exclusive art by Axel Rangel
key takeaways
- Forte completes one of the largest raises in the digital asset space this year
- The company hopes to provide blockchain gaming solutions to traditional game studios to help them leverage the power of digital assets and empower gamers around the world
Forte, a company that aims to onboard major game developers into the blockchain world, closed its Series B which added $725 million of capital from Sea Capital and Kora Management, according to a press release.
Other notable investors in Forte include Andreessen Horowitz, Cosmos, Polygon Studios, Solana Ventures, and the game studio behind The Sandbox; Animoca Brands. The platform already has more than 25 world-class game developers utilizing their solutions, notes the company’s website.
The company is building turnkey solutions for traditional game studios to leverage blockchain technology such as wallet integrations, AML/KYC compliance solutions, NFT marketplaces, payment rails, and more.
“We believe we are at the forefront of a new technological wave, and blockchain gaming will be even bigger than all the shifts we’ve seen before,” said Forte co-founder and CEO Josh Williams.
The platform allows games to integrate various digital assets into their current product offerings, such as NFTs or player-to-player marketplaces for in-game assets to be traded. It will also enable interoperability between various layer-1 and layer-2 chains throughout the cryptocurrency ecosystem.
“We partnered with Forte because of its ethos of building a platform that is simple to integrate without limiting developer flexibility or control, building for the long-term, solving scalability challenges that limit transaction throughput on blockchains today, mitigating high latency and costs associated with blockchain transactions, as well as future-proofing with blockchain portability and cross-chain interoperability.” said Daniel Jacobs, Kora Capital’s founder.
The company is focused on transitioning to a decentralized structure over the long term. Their vision is to create a platform that is owned, controlled, and nurtured by the gaming community. By doing so, developers, players, and publishers of all sizes will be able to reap the benefits of community economics without relying on a centralized entity, according to their website.
The Forte team is composed of industry veterans in the gaming field. The team includes alumni from Electronic Arts, Sony, Rockstar Games, Unity, and others. They have raised $900 million to date, and today’s announcement marks one of the largest raises by a crypto focused company this year, a year already marked by large fundraises.
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