Voodoo bets on crypto mobile games to be won – TechCrunch

French startup Voodoo has announced its intention to make a significant investment in blockchain-based mobile games. The company estimates that this represents an investment of $ 200 million over the next few years.

2021 has been an important year for crypto games, with Infinite Axis popularize the model of the game to win. Some companies, such as Mythical Games, have raised massive funding and are working on consumer crypto games.

Tangentially, fantasy sports NFT games could be considered crypto games. On this front, So rare raised a $ 680 million Series B round while Dapper Labs, the company behind Best shot in the NBA, raised $ 250 million to go further into the NFT space.

Voodoo is currently best known for its hyper-casual games, with 5 billion downloads and 300 million monthly active users. Voodoo games include Helix Jump, Crowd City, Hole.io, and Paper.io 2.

The company has its own studios but also acts as a publisher for third party game studios. Voodoo’s secret sauce is its tech stack to optimize distribution, average revenue per user, and constant iteration.

And the mobile gaming expert doesn’t want to stand still when it comes to crypto gaming. Voodoo already has 10 in-house studios working on blockchain-based games. Next year, it plans to open 20 more studios focused on crypto games.

In 2021, Voodoo acquired eight companies. So it looks like new crypto game studios could come from acquisitions.

“There are few occasions in life when we experience a technological breakthrough that transforms industries. The blockchain is going to disrupt the game in particular, as players are already used to buying digital assets. This technology will give players true ownership of their digital assets, creating deeper interactions between players – collecting, trading, selling digital currencies and game assets – which will increase fun and engagement. It will also allow players to leverage their assets, opening up a new model of ‘play and win’, “Voodoo CEO Alex Yazdi said in a statement.

So you can expect tradable NFTs in future Voodoo games. They could have financial value outside of games, as users could buy and sell them in online marketplaces.

In addition to Voodoo’s existing stack, the company plans to work on a reusable blockchain stack to manage tokens, create NFTs, create wallet addresses, and integrate with Layer 1 blockchains (like Ethereum) and solutions. layer 2 to reduce transaction costs.

Robert P. Miller