Blockchain gaming startup Forte raises $725 million in Series B funding

Blockchain gaming startup Forte raises $725 million in Series B funding

Forte, a U.S.-based startup that provides blockchain solutions for game publishers, has raised $725 million in a Series B funding round.

Sea Capital and Kora Management co-led the round, with participation from several high-profile venture firms and investors, including Andreessen Horowitz (a16z), Tiger Global, Solana Ventures, Polygon Studios, Cosmos, Animoca Brands, and Warner Music Group.

With fresh capital at hand, Forte plans to expand its services and onboard more game publishers. Forte's platform is currently invite-only and in private testing. It claims to have over 40 game developer partners.

Developers use the Forte platform to integrate blockchain technology into their games, enabling features such as non-fungible token (NFT) minting and selling, and payment rails.

A Forte spokesperson told The Block that the firm does not operate its own blockchain. It rather works with various Layer 1 (L1) and Layer 2 (L2) blockchains providers such as Ethereum, Cosmos, Solana, XRP Ledger, Polygon, and more to enable game developers to create tokens and community economies.

"We are live in over 10 titles today and have nearly 20 million monthly active users already across Forte-powered games," said the spokesperson. "Each game decides how and when it would like to move from testing to full live operations on public L1 and L2 blockchains and networks."

Forte co-founder and CEO Josh Williams said the firm's mission is to prepare all game developers, large and small, to be successful in the blockchain gaming space.

The firm's massive Series B round comes just six months after it raised $185 million in its Series A round at a $1 billion valuation, led by Griffin Gaming Partners. The Series B round brings the firm's total funding to more than $900 million this year. The spokesperson declined to share Forte's valuation post the Series B round.

Blockchain gaming startups have been raising a lot of money, as The Block reported recently. Last month, nearly half of the $3.4 billion worth of VC deals were in this category.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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