This week, in a collective announcement, Galaxy Interactive, Republic Crypto and Alameda Research have announced the formation of a new investment consortium. Known as New Game + (NG+), it will have a strong focus on supporting the growth of projects in the blockchain gaming space.
Between all three companies, their combined capital, knowledge and experience makes them a powerful partner for any projects looking to strike out into Web3. That’s according to Galaxy Interactive’s General Partner – Richard Kim.
“We thought that was a really powerful combination of abilities ex-ante to help established game developers find their way into crypto… That’s why we pulled this [consortium] together.”
To make this a reality, NG+ will structure a Y-Combinator-like program; enabling Web3 gaming startups to get the support and funding they need to develop from concept to MVP. While functioning on a more informal basis, the combination of skills and capital offer flexibility to aspiring startups.
In the same announcement, the trio also announced their first three gaming investments:
- Delysium – the open-world battle-royale game that has also recently closed its $4 million private token sale, of which NG+ co-led.
- RCT’s Mirror World – An online metaverse experience for cross-platform gaming.
- Greenpark – developed by Greenpark Sports as a sports / esports experience, and includes partnerships with La Liga, the NBA, the League of Legends Championship Series and Major League Soccer.