Fashionable Instances Group’s blockchain-focused portfolio firm Kongregate has formally introduced the acquisition of Gamaga, a cell sport developer based mostly in Chile.
The acquisition has valued Gamaga at someplace between $5 million and $7 million, with completion of the transaction anticipated someday this month.
Executing NFT methods
Since 2021, Gamaga has supported Kongregate’s blockchain gaming initiatives and the brand new deal will internalise a detailed working relationship within the NFT and blockchain gaming area. Gamaga’s growth crew has additionally beforehand labored on video games with manufacturers akin to Sony, Div3rsion and iEntertainment Community, with one in all its newest video games being based mostly on the Netflix present Cobra Kai.
Moreover, Gamaga owns the supply code for 2 sport engines which have powered video games reaching 200 million downloads. Primarily, the Chilean studio’s experience is in 2D and pixel graphic paintings and manufacturing.
A latest report by Newzoo outlined 10 key trends it expects to see in the future of the metaverse.
“Gamaga is a key associate on our journey to carry gamers new and progressive gaming experiences constructed round blockchain and NFT know-how. The transaction will allow us to proceed executing on our NFT technique and transfer quicker in direction of our imaginative and prescient of making an built-in gaming expertise that allows gamers to turn out to be house owners of their gaming journey,” mentioned Kongregate CEO Markus Lipp.
“It’s my pleasure to welcome all of Gamaga’s gifted crew to our gaming village. I sit up for persevering with our shut work to place Kongregate as a pioneer in NFT gaming.”
Earlier this week, Verve Group acquired mobile DSP Dataseat for an undisclosed sum, with all the firm’s current staff becoming a member of the corporate.
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