NFT gaming got a boost this week as Big Time Studios announced it had closed $21M in funding. Big Time, with triple-A talent on its roster, creates next-generation multiplayer games. This funding round is aimed at integrating NFTs into major gaming technologies.
NFT Games a Growth Industry
The move comes as companies race to find ways to capitalize on the NFT boom. In-game economies are an obvious next step for crypto dynamics, which already trade in virtual goods. It is all but certain that Big Time’s foray will create a new urgency in the NFT gaming space. That is an urgency the company hopes to capitalize on.
Big Time’s CEO, Ari Meilich, told VentureBeat they would aim to simplify asset custody and management. The focus, said Meilich, is to allow users with “zero blockchain experience” to play along.
Investing in the Future
The $21M in funding round will go toward building the technology to allow other platforms to capitalize on NFTs in games. Meilich also revealed that Big Time will be producing a kind of proof-of-concept in their own game, also entitled “Big Time.” Described as a multiplayer action-RPG where up to six people team up to kill monsters, it is expected to launch in 2022.
Big Time Studios boasts a team with talent from Epic Games, Blizzard, Electronic Arts, Riot Games and Decentraland. Despite their credentials, Big Time’s effects on the NFT gaming space remain to be seen. However, if they meet their goals of making NFTs more accessible for everyone, much more than a stellar game may be on the way.