A few hours ago, NEO Global Capital announced that it has financed BetProtocol, a decentralised platform in the world of gaming, in order to “build the Ethereum of gaming”, as stated in the official statement.
In total, BetProtocol has raised $3 million from various investors, including NEO Global Capital.
BetProtocol is a service that allows developing platforms for betting and predicting markets similar to Augur.
This $3 million investment saw as participants NGC Ventures, CMS Holdings, Blockground Capital, Shilling Ventures, Bynd Venture Capital and Utrust Ventures, hence investors of a certain calibre and who have bet significantly on the project.
Moreover, NEO Global Capital had already invested in projects such as Algorand, Kucoin, Zilliqa, Polkadot and many others.
Will gaming help the blockchain?
It’s often said that gaming will promote the mass adoption of the blockchain.
The gaming industry, in fact, is one of those sectors that is not affected by crises and indeed, thanks to the blockchain, it is evolving towards new horizons. It is growing year by year with a market worth 152 billion dollars and annual growth of 10%.
The investments received will lead the BetProtocol team to expand in China and South Korea, home to other famous blockchain-based games: for example, consider what has been done in the ecosystem of the EOS blockchain with several games that have their headquarters in those countries.
South Korea is the fourth-largest mobile gaming market in the world with the highest rate of smartphones per person: an average of 9 out of 10 people having a smartphone between the ages of 21 and 35.
Even Ethereum, for example with its CryptoKitties that often clog the network, is among the most successful examples of blockchain gaming, since it is perhaps the most used in the industry so far.
Recently also Cardano’s blockchain has made its entrance into gaming thanks to a partnership with the Korea Mobile Game Association (KMGA).