VanEck Dives Deeper Into Web3 Gaming - Invests In NFT Gaming Startup Gunzilla

VanEck Dives Deeper Into Web3 Gaming – Invests In NFT Gaming Startup Gunzilla

Updated: 01 November 2024

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Blockchain gaming, which previously took the crypto and non-fungible token communities by storm, is back on hype and is considered a hot new frontier in online gaming. In recent weeks, the NFT games market has seen notable institutions and global asset managers shift their focus back and reconsider web3 gaming as a viable investment destination. VanEck is the latest firm to bet big in this web3 gaming sector, with investment in Gunzilla Games.

VanEck Invests In NFT Gaming Startup Gunzilla

In an October 31 blog post, VanEck confirmed through its spokesperson Mattmaximo that they have invested in Gunzilla Games and their ambitious new project, Off the Grid (OTG). The recent investment in Gunzilla Games has brought VanEck’s investment in the Web3-enabled gaming space to two under its liquid token strategy. Liquid Token Strategy refers to staking assets in liquid form, allowing users to engage in various economic activities while earning staking rewards.

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 (@mattmaximo1) October 31, 2024

Gunzilla Games is an AAA game studio and developer of Off the Grid, a non-fungible token game created on its native blockchain network, GUNZ. Built on the Avalanche Subnet, GUNZ is a blockchain network that empowers AAA game developers with the tools to build player-driven economies by providing players with full ownership of in-game assets as tradeable NFTs.

The highly anticipated NFT game “Off the Grid” is a dystopian cyberpunk shooter game with a 60-hour campaign and a 150-player battle royale. Created with Oscar-nominated director Neill Blomkamp, the Off the Grid game blends cinematic storytelling and intense multiplayer action in a futuristic world. The OTG is not a play-to-earn game, but it uses a blockchain network to enable ownership and trading of digital items (NFTs), which offers two key benefits for players and developers.

OTG NFT Game Receives Massive Traction

The new Off the Grid will likely explode in adoption and popularity and possibly compete with leading NFT games like the Guild of Guardians, Axie Infinity, and Splinterlands. This new game has already gotten endorsements from gaming icons such as Shroud, a top streamer with over 10 million followers, Ninja, and TimTheTatMan. The OTG game has also received a good reception from the gaming community.

Gaming icon Shroud, a top streamer with 10M+ followers, endorses OTG's innovative approach:

"This game is going to incentivize trading your skins for another skin you might like… That's honestly not a bad idea because nowadays people want that." pic.twitter.com/S7Dn7XHzYj

— Matt (@mattmaximo1) October 31, 2024

The Gunzilla has also launched $GUN, a non-fungible token-based gaming coin that will be used to make purchases within the Off the Grid game. Players earn GUN tokens and Hexes (Loot Boxes) after each game, the same as any other Battle Royale. These GUN tokens can be used in-game to open a Hex and reveal a random item in the game. Digital items earned can be withdrawn to a crypto wallet and redeemed as fiat.