VanEck bets big on web3 gaming with investment in Gunzilla Games 

VanEck, a leading global asset manager, has announced its second major gaming investment under its liquid token strategy. It is betting on Gunzilla Games and their ambitious new project, Off The Grid (OTG). 

VanEck Invests in Gunzilla’s Web3 Game “Off The Grid”

VanEck’s Matt Maximo made the announcement on Oct. 31. Maximo highlighted Gunzilla Games as the creators of the first Web3-enabled, AAA-rated game that will be available on multiple platforms, including PC, Xbox, and PS5. According to him, VanEck’s liquid token strategy is keenly focused on gaming, which is one of the most promising areas for blockchain and tokenized investments.

Excited to announce our 2nd major gaming investment at @vaneck_us liquid token strategy: Gunzilla Games, creators of the first web3-enabled Triple-A rated game, Off The Grid, on PC, Xbox and PS5.

Here’s why we’re bullish on OTG and the intersection of gaming and blockchain:
🧵 https://t.co/ws5YqvlVml

— Matt (@Mattmaximo) October 31, 2024

Gabe Rabello, another critical figure in VanEck’s liquid token strategy team, initially shared that gaming represents a core pillar of the firm’s investment outlook. So far, VanEck has committed to two long-term investments in this space: Parallel TCG and Off The Grid.

Gunzilla Games developed Off The Grid, a “dystopian cyberpunk shooter” where players can earn Gunzilla’s native GUN token. It is directed by Oscar-nominated filmmaker Neill Blomkamp and aims to provide players with an immersive world that combines both narrative-driven and multiplayer gameplay. 

This blend of storytelling and interactivity, coupled with integrating Web3 features, positions OTG as a pioneering entry in the emerging market of blockchain-enabled AAA games. Matt Maximo from VanEck shared on the X platform:

We view crypto as a way to enhance gaming experiences and refine monetization strategies.

~Matt Maximo

Gaming startups attract $517 million in Q3 2024 funding

According to data from Konvoy, a venture capital firm, gaming startups attracted $517 million in funding in the third quarter of 2024. This influx follows VanEck’s investment in March in Parallel, a Web3-based card game in which tradable cards exist as on-chain NFTs. Parallel’s $35 million funding round also saw support from Solana Ventures and Coinbase’s Base Ecosystem Fund.

Maximo noted that gamers have long created systems for trading in-game items, with platforms like Steam’s peer-to-peer marketplace generating over $32 billion in trading volume. He noted that blockchain can meet players’ needs for transparency and control over in-game assets.

In Off The Grid, players earn GUN tokens to unlock in-game items, which they can store in Web3 wallets. The game’s marketplace, built on an Avalanche subnet called GUNZ, lets players buy and sell items using GUN tokens.

Off The Grid enlisted Richard Morgan, author of Altered Carbon, and director Neill Blomkamp to drive its creative direction. A few years ago, VanEck launched its Digital Asset Alpha Fund, which focused on liquid tokens and used traditional valuation techniques.