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Galaxy, Alameda to Invest in Blockchain-Focused Gaming Studios

  • NG+ consortium will help firms with token economics, liquidity
  • Members will receive minority stakes via project tokens
A former student plays Axie Infinity, a NFT-based online video game, at home in Ciudad del Carmen, Mexico.

A former student plays Axie Infinity, a NFT-based online video game, at home in Ciudad del Carmen, Mexico.

Photographer: Alejandro Cegarra/Bloomberg
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Galaxy Interactive, Republic Crypto and Alameda Research are launching a consortium that will invest in blockchain-focused gaming studios and developers.

The consortium called NG+ will seek to fund experienced, traditional video-game developers and studios, and help them with token economics and liquidity as they create blockchain-based titles. The members will receive minority stakes in the efforts’ tokens, said Richard Kim, general partner at Galaxy Interactive, billionaire Mike Novogratz’s venture arm.