Galaxy Interactive, Alameda, Republic Team Up for Web3 Gaming Investments

Bloomberg announced on their Twitter page a partnership that combines Galaxy Interactive, Alameda Research, and Republic Crypto in a new investment. The partners talked about launching a new game under the name NG+ or New Game+.

Galaxy Interactive, Republic Crypto and Alameda Research are launching a consortium that will invest in blockchain-focused gaming studios and developers https://t.co/BR4Wa6BXKh

— Bloomberg Crypto (@crypto) March 17, 2022

New Game+ is a term used usually to describe an enhanced version of a campaign that unlocks once the standard version is completed. NG+  is an investment consortium that will combine the powers of three leading crypto firms to develop the next generation of tokenized video games.

All three partners will invest in each game project in exchange for a 10% combined share of its crypto gaming token. Each partner will also have a unique role. It was explained that Galaxy will focus on sourcing game studios to bring into the program, while Republic will advise on token design and tokenomics for games. Additionally, Alameda will provide liquidity for tokens.

The most important point of view on this partnership and project came from Galaxy Interactive General Partner, Richard Kim, as he explained that the idea with NG+ is to create a Y Combinator-like program to funnel Web3 gaming startups through.

In the matter of Galaxy’s role, Mr. Kim said:

We thought that was a really powerful combination of abilities ex-ante to help established game developers find their way into crypto. That’s why we pulled this [consortium] together.

Kim explained that NG+ isn’t a formal joint venture, nor does it have a fixed commitment around dollar size. But between these three companies, the partnership will support game developers via standardized deal terms and pre-agreed support obligations.