The Beam Foundation, a blockchain organization, recently announced the establishment of a $150 million fund dedicated to the gaming industry. The announcement came during the Q2 2021 quarterly meeting. The fund, which has been named the Beam Game Developers Fund, is aimed at promoting the integration of blockchain technology into the gaming industry. It will support game developers who are willing to embed Beam's privacy-focused blockchain into their games.
The Beam Foundation is based in Abu Dhabi and aims to improve the Beam blockchain's ecosystem. The establishment of this fund is seen as an initiative to promote the Beam blockchain's adoption in more industries, starting with gaming. Gaming is a rapidly growing industry, with a global market value expected to reach $159.3 billion by the end of 2020. This value is projected to rise by a CAGR of 9.3% from 2020 to 2025, reaching an estimated $200 billion.
The integration of blockchain technology into the gaming industry is expected to revolutionize the industry by providing a more secure, transparent, and fair gaming experience. It can also provide solutions to the issues of fraud, cheating, and manipulation that have been plaguing the industry for years. Blockchain technology can also provide a platform for the creation of in-game assets that are unique, rare, and valuable. These assets can be traded, sold, or bought on a blockchain-based marketplace, providing a new source of income for gamers and developers alike.
The Beam Game Developers Fund will provide financial support to game developers who are interested in integrating Beam's privacy-focused blockchain into their games. The fund will support game development projects in various stages, from conception to full development. It will also provide support for marketing and promotion activities.
The Beam Foundation believes that the integration of blockchain technology into the gaming industry will not only revolutionize the gaming industry but also contribute to the widespread adoption of blockchain technology in other industries. This initiative by the Beam Foundation is a significant step towards achieving this goal.