Forte Raises Additional $725 Million in Series B Funding 

Blockchain gaming platform Forte recently closed its Series B financing, securing an additional $725 million. Forte announced the Series B funding on the 12th of November, months after its Series A financing in May. On the 20th of May,2021, Forte, in a Series A funding led by Griffin Gaming Partners, raised $185 million. Consequently, the series B funding, which comes six months after, brings the total capital raised by Forte this year to $900million

Forte Series B Funding

According to the recent announcement, Sea Capital and Kora Management led the Forte Series B Funding. Powerhouse game and media publishers also contributed to Forte’s fresh funds. The participants include Animoca Brands, Overwolf, Warner Music Group, Big Bets (Huuuge Games), Play Studios, and zVentures (Razer). 

Blockchain partners like Cosmos, Solana Ventures, and Polygon Studios were also part of the funding round. Also, Griffin Gaming Partners, Andreessen Horowitz (a16z), and Tiger Global were investors in the Series B round. 

With its blockchain gaming platform, Forte gives game publishers access to integrate blockchain technologies into their games. Publishers get to enjoy features like smooth, embeddable token wallets, minting and selling of NFTs, and other blockchain technologies. Blockchain-enabled games allow players to own goods rather than play games for entertainment purposes only. Also, players globally can easily trade goods and services through blockchain-enabled games. This creates a healthier, creative community and economic opportunity for game players. 

While speaking during the Series B announcement, the CEO and co-founder of Forte, Josh Williams, said: 

“Over the past 50 years, games have undergone seismic shifts in their business and revenue models, becoming more aligned with players at every turn.”

Growth in the Games Industry

He further established that the games industry has grown larger than the music and film industries combined. According to him, the games industry aligns closely with more players, thereby accruing nearly 180 billion annual revenue. In other words, Forte’s mission is to prepare all gamer developers, whether big or small,” to be successful in this new landscape.”

A unique benefit of Forte is its customizability and interworking with multiple blockchains enabled for publishers. It works with Layer-1 and Layer-2 blockchains such as Ethereum, Cosmos, and Solana. Essentially, this provides freedom of choice and maximum liquidity for players. 

Daniel Jacobs, the co-founder of Kora Capital, one of the frontiers in the Forte Series B funding, acknowledged Forte’s effort. He said that Forte is building a platform that is “simple to integrate without limiting developer flexibility or control, building for the long-term, solving scalability challenges that limit transaction throughput on blockchains today….”

Daniel added that publishers could grow their new businesses with innovative ideas, and players can truly own in-app purchases and virtual goods. He said:

“This is a win for the entire ecosystem.”

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