MON Protocol, a prominent Web3 intellectual property (IP) and games publisher, has announced the launch of MON Ventures, a new investment fund spearheaded by 500 Global. The primary goal of the fund is to support blockchain gaming studios globally and invest in seed and pre-Token Generation Event (TGE) stage blockchain applications, particularly those focusing on gaming and infrastructure.
Funding and Ecosystem Collaborations
MON Ventures aims to provide direct funding to Web3 gaming studios and startups while fostering collaborations within the ecosystem. This initiative is expected to significantly impact the development and expansion of blockchain gaming, given the increasing interest and investment in the sector.
The leadership team of MON Protocol comprises former senior executives from renowned companies such as Ubisoft, Sony, Activision, Warner Media, Bandai Namco, and Electronic Arts. This experienced team brings a wealth of industry knowledge and expertise to the table, positioning MON Protocol as a key player in the Web3 gaming and IP publishing space.
Community Engagement and Fundraising Success
MON Protocol has successfully built a vibrant community of Web3 gamers and enthusiasts. The recent community pre-sale of the MON Protocol Token achieved 100 percent of its required allocation in a short period, raising a total of US$7.1 million at the time of the sale. This success underscores the strong support and confidence from the community in MON Protocol’s vision and projects.
Growth in Blockchain Gaming
According to the Dapp Industry Report for Q1 2024, blockchain gaming continues to dominate the industry’s activities, attracting approximately 2.1 million daily unique active wallets in the first quarter of 2024 alone. This significant engagement highlights the growing popularity and adoption of blockchain gaming.
Furthermore, Markets and Markets has projected that blockchain gaming revenue will experience a compound annual growth rate (CAGR) of 70.3 percent from 2022 to 2027. This growth is expected to increase global revenue from US$4.6 billion to US$65.7 billion, indicating a substantial market expansion. The launch of MON Ventures is well-timed to capitalize on this growth and accelerate the development of blockchain gaming applications and infrastructure.
Vision for Blockchain Gaming
Giulio Xiloyannis, co-founder of MON Protocol, expressed the firm’s long-term belief in the potential of blockchain-enabled gaming. He emphasized that the structure of MON Ventures aligns with their vision to expand as a premier Web3 publisher. By forming a network of interconnected blockchain-native consumer and gaming IPs, MON Ventures aims to achieve significant growth through mutually beneficial network effects. This strategy is expected to enhance the reach and impact of blockchain gaming and related applications.
Conclusion
MON Protocol’s launch of MON Ventures marks a significant step in the advancement of blockchain gaming. With the backing of 500 Global and a leadership team of industry veterans, the fund is poised to make a substantial impact on the development and growth of Web3 gaming studios and applications. As the blockchain gaming industry continues to expand at an impressive rate, MON Ventures aims to be at the forefront, driving innovation and fostering collaborations that will shape the future of gaming and digital entertainment.
In summary, MON Ventures is set to play a crucial role in empowering blockchain gaming studios and accelerating the growth of blockchain gaming applications worldwide. The fund’s strategic focus on seed and pre-TGE stage investments, combined with the expertise of MON Protocol’s leadership team, positions it as a key player in the burgeoning Web3 gaming industry.