Singapore, Singapore, July 17th, 2024,
FinanceWire
MON Protocol, a leading
Web3 publisher of intellectual property (IP) and games, launches a
new investment fund MON Ventures with 500 Global as the lead
investor. The fund, led by a team of former senior executives from
Ubisoft, Sony, Activision, Warner Media, Bandai Namco, and
Electronic Arts (EA), will empower blockchain gaming studios across
the world, investing in seed and pre-Token Generation Event (TGE)
stage blockchain applications, with a particular focus on gaming
and infrastructure.
MON Protocol is a Web3 gaming and IP
publisher that has built a massive community of Web3 gamers and
fans. The community pre-sale of the MON Protocol Token hit 100% of its required
allocation within 8 minutes, raising a total value of US$7.1
million at the time of the sale.
The formation of MON Ventures comes
just weeks after MON Protocol’s TGE for $MON, a key strategic
initiative towards realizing their vision of a diverse Web3 IP
universe experienced by consumers through storytelling, gaming, and
collector culture. As the publisher of choice for Solana, Aptos,
Immutable, and Seedify Fund, MON Protocol has connected a vast
network of blockchain-native games and IPs, enabling them to reach
larger bases of gamers and fans. The team has onboarded over 70
partner games to date, including AETHIR, NYAN Heroes, AVALON, Cross
The Ages, and is projected to reach over 100 partner games before
the end of 2024.
In addition to providing direct funding
to Web3 gaming studios and startups, MON Ventures also values
collaborations within the ecosystem. Amongst its first partners and
backers are 500 Global, a multi-stage venture capital firm that has
invested in companies such as Reddit, Sky Mavis, Solana and over 35
companies valued at over US$1 billion (as of 31 March 2024). 500
Global has been one of the most active venture
capital firms in the world, according to Pitchbook.
Dapp Industry Report Q1
2024 reported that blockchain gaming continues to command the
largest share of the industry’s activities, attracting around 2.1
million daily unique active wallets solely in Q1 2024. In addition,
Markets and Markets
forecasted blockchain gaming revenue to grow by a CAGR of 70.3%
between 2022 and 2027, rising from USD 4.6 billion to USD 65.7
billion globally. Along with a notable upward shift in the
blockchain investment landscape throughout this year, it marks an
opportune time for the launch of MON Ventures to accelerate this
growth.
Giulio Xiloyannis, co-founder of MON Protocol
shares, “MON Ventures marks a major milestone for MON, and
we are excited to be partnering with a leading multi-stage firm
like 500 Global. We are long-term believers in the blockchain
enabled gaming space, and the structure of MON Ventures supports
our vision to continue expanding as a premier Web3 publisher,
forming a network of cross-pollinating blockchain-native consumer
and gaming IPs that will reap hyper-growth benefits through
mutually beneficial network effects.”
Khailee Ng, Managing Partner at 500 Global
adds, “I see game developers as entrepreneurs too;
creating exceptional gaming experiences help build sustainable,
scalable business models. That's a key factor for gaming studios to
succeed. Southeast Asia is a vibrant epicenter for gaming
technology innovation that is primed for growth. We’re excited to
fuel the creation of tomorrow's Web3 gaming tech giants, going
beyond investing capital to providing access to a global network of
industry connections crucial in the early stages for long-term
success.”
ABOUT MON
PROTOCOL
MON Protocol is a leading publisher of
blockchain-native IPs and gamers. MON Protocol launched with the
Pixelmon gaming IP as its founding partner and has since built a
large community of web3-savvy gamers and fans. Its platform enables
blockchain-native projects to reach larger bases of gamers and
fans.
MON Protocol’s investors include some
of the most prominent VCs and builders in the web3 gaming industry,
such as the Inevitable Gaming Fund, Foresight Ventures, Delphi
Ventures and The Spartan Group, as well as angel investors and
founders such as Robbie Ferguson of Immutable, Gabby Dizon of Yield
Guild Games (YGG) and Ray Chan of 9GAG.
For more information on MON
Protocol:
Contact
Chief Marketing
Officer
Stuart
Chan
LiquidX
Studio
stuart@liquidx.studio