Galaxy Interactive, Republic, Alameda Team Up for Web3 Gaming Investments
In brief
- Galaxy Interactive, Republic Crypto, and Alameda Research have founded an investment consortium called NG+.
- Short for New Game+, the alliance will focus on investments in Web3 video games.
As the wider NFT market surged in 2021, so did interest in blockchain-powered games—with scads of them launched or announced over the past year. Now Galaxy Interactive, Republic Crypto, and Alameda Research have formed a co-investment alliance focused on the Web3 gaming space.
NG+, which is short for New Game+, is an investment consortium that will see the three notable crypto firms co-invest to cultivate the next generation of tokenized video games.
New Game+ is a common video game term that refers to an enhanced version of a campaign that unlocks once the standard version is completed.
Galaxy Interactive General Partner Richard Kim told Decrypt that the idea with NG+ is to create a Y Combinator-like program to funnel Web3 gaming startups through. He described it as a curation initiative that will put a “stamp of approval” on games, much like being featured by Apple on the iOS App Store.
All three firms will invest in each game project in exchange for a 10% combined share of its crypto gaming token. Each partner of the co-alliance will also have a unique role.
Galaxy will focus on sourcing game studios to bring into the program, Republic will advise on token design and tokenomics for games, and Alameda will provide liquidity for tokens.
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