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Quantix Capital, a prominent venture capital firm located in the UAE, is joining forces with TZ APAC, an established adoption hub for the Tezos blockchain based in Singapore. This collaboration aims to foster gaming development on the Tezos platform.
Significant Investment for Emerging Gaming Projects
In their recent announcement, Quantix Capital revealed a significant investment of $1 million dedicated specifically to emerging gaming projects utilizing the Tezos blockchain. This partnership not only involves financial support but also includes a robust network and mentorship opportunities facilitated by senior members from both Quantix Capital and TZ APAC.
Empowering Developers in the Tezos Ecosystem
The primary goal of this partnership is to stimulate long-term growth within the Tezos ecosystem. By empowering developers with the necessary resources and expert guidance, both firms aim to drive innovative developments in the gaming sector. This collaborative effort reflects a broader commitment to nurturing creativity and exploration within the Web3 space.
Previous Partnerships Enhancing Talent in Asia
Earlier this year, another notable collaboration emerged when Singapore-based early-stage venture capital firm Farquhar VC teamed up with TZ APAC to support burgeoning talent in the Asian market. Farquhar VC announced plans to co-invest alongside the Tezos blockchain development team in upcoming Web3 games, furthering the ecosystem’s growth and talent development.
A Commitment to Innovation in Gaming
Jake Seltzer, managing director at Quantix Capital, expressed the firm’s steadfast commitment to the partnership, highlighting Tezos’s potential to be an incubator for revolutionary projects in the Web3 landscape. “Our investment is not just financial; it’s a commitment to nurture creativity and innovation among builders who are shaping the future of gaming and interactive entertainment,” Seltzer articulated.
Addressing Awareness Challenges in Blockchain Gaming
Despite the promising prospects, blockchain gaming currently faces challenges in gaining mainstream acceptance, with over 80% of gamers yet to engage with the technology. A recent survey conducted by OnePoll indicated that 52% of gamers are unaware of blockchain gaming, while 32% have yet to try it. Nevertheless, blockchain technology offers solutions to long-standing issues in gaming, including permanent item ownership and novel revenue models such as play-to-earn.
Utilizing Blockchain’s Potential for Tezos Projects
The $1 million fund created through this partnership will specifically finance promising projects on the Tezos blockchain, aiming to support innovative ideas that could transform the gaming industry. Beyond mere financial backing, Quantix Capital and TZ APAC plan to actively engage with the broader crypto and gaming communities to enhance the visibility and adoption of Tezos-based solutions.
Vision for Long-Term Growth and User Empowerment
Jeremy Foo, head of gaming at TZ APAC, shared insights regarding the partnership, stating, “Tezos is all about real utility, empowering both players and developers to transcend traditional industry boundaries. Our focus is on long-term growth, creating sustainable value, and enabling games to thrive through genuine engagement and user ownership.” This sentiment underscores the dual objectives of leveraging blockchain technology while facilitating player and developer empowerment.
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