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Vorto gaming raises $4 million to develop virtual economy

Cryptopolitan


TL;DR Breakdown

  • Vorto gaming makes $4m in funding round for virtual economy project.
  • Investment used to build Vorto Gaming infrastructure and the blockchain enabled Vorto Network ecosystem

Vorto Gaming has raised $4million USD in funding via a closed investment round that will help deliver a virtual economy for gamers across the globe, the firm announced in a Wednesday press release.

The investment round, which ended in September, saw the company raise 25 more than the initial target of $3.2million set before the round opening. It allowed selected partners to come onboard and provide a valuable source of expertise and funding as they look to build and increase the business infrastructure around Vorto Gaming and the Vorto Network ecosystem.

Firms like Flow Ventures; LD Capital; Block0 Fund, Red Cave Ventures; ArkStream Capital; GFS Ventures; Polygon Studios Fund, UAE-based crypto-asset funds, among others, participated in the funding round. A host of industry-leading investment firms threw their support behind the project.

We are proud to support vorto gaming blockchain games because it has many opportunities – Investor

Tommy Quite, Investment Director at Flow Ventures, said, “Flow Ventures is very excited to lead the investment round into Vorto Network. We see many blockchain games that opportunistically try to capitalise on the P2E craze without live games or by copying existing models. This is why it was refreshing to see a well-established gaming studio with authentic and proven games enter the space. After talking to them, we got even more excited; rarely do we encounter such professional and dedicated teams.”

Blake Gao, Partner at LD Capital, on his part, said that “We’re keen to help Vorto Gaming explore ways of creating a cohesive hub for play-to-earn. Empowering P2E models to create huge incentivization for many players across developing markets. Vorto has an ambitious vision for the future of the industry, and we are looking forward to supporting them and our community in achieving these goals.”

Vorto Gaming CEO Kris Vaivods said that Vorto Network creates a reality for players and studios alike, wanting to shift gears into web 3.0 rapidly.



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