- Pantera Capital intends to accelerate the TON blockchain’s expansion through the WatBird Telegram Mini App game by means of its investment in GAMEE.
- With TON integration, 90 million-user web3 gaming company GAMEE hopes to use Telegram to drive widespread blockchain adoption.
- With recent worries regarding their exit strategy in Web3 investments, venture capitalists such as Pantera concentrate on high-growth firms.
- Special welcome bonus from M2 Exchange, valued at 260 USDT.Join M2 to unlock.
The mobile gaming platform that powers the WatBird game, GAMEE, is a division of Animoca Brands, and Pantera Capital has invested in it.
WatBird was created as a Telegram Mini service by blockchain gaming company GAMEE to teach Web3 to users of the messaging service through entertaining, meme-inspired gameplay.
Pantera Accompanying TON to Support GameE
The gaming behemoth Animoca Brands revealed the investment in a press release on Wednesday. According to the release, GAMEE plans to utilize the money to increase WatBird’s presence on The Open Network (TON). The project is consistent with GAMEE’s goal of integrating its gaming experiences with that blockchain in order to strengthen its position within the TON ecosystem.
With more than 90 million registered users, GAMEE has enabled over 10 billion gaming sessions on several platforms. Remarkably, more than 4 million GAMEE users have already connected WatBird to their TON Wallets.
Managing more than $5 billion in assets, Pantera Capital is the first institutional investing firm in the US to concentrate solely on blockchain.
Pantera may have found GAMEE from Animoca Brands more appealing as a result of its recent integration with TON. To aid in the development of Telegram micro apps, TON Venture invested in GAMEE on August 18.
The Web3 gaming company is now well-positioned to take advantage of Telegram’s enormous user base and its potential for mass blockchain onboarding thanks to this connection. Pantera Capital probably saw Telegram’s potential as a Trojan horse for widespread blockchain adoption, according to Justin Hyun, director of investments at TON Foundation.
Venture Capital Funding Is Still a Divisive Topic
While Hamster Kombat, a peer on the TON blockchain, is adamantly opposed to outside funding, GAMEE is open to receiving venture capital investment. According to BeInCrypto, this is a part of Hamster Kombat’s strategy to safeguard the interests of its gamers. The decision is a result of worries that venture funders would put their departure plans first, jeopardizing the project’s long-term viability.
The worry stems from recent studies that show the majority of tokens supported by top venture capitalists declined. However, Pantera Capital’s investment in GAMEE is indicative of a general VC trend. They go after start-ups, especially those with significant room for expansion.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
