On April 22, Michael Cameron, CEO and co-founder of Game Space, announced the release of one of the first GaaS platforms “GameFi as a Service”. Game Space also announced that it received over $7 million in funding. This funding round is jointly led by top VCs, publicly traded gaming companies, and top exchanges.
Game Space provides a GameFi as a one-stop service for major game companies and AAA titles, an SDK integration line of code, as well as an NFT exchange engine that can be integrated into games, helping the project GameFi to shorten the launch time by up to six months and significantly lower the threshold for game companies to enter Web3.
Game Space is focused on being a one-stop solution for AAA game studios, ensuring there are no limits for the game companies Game Space works with. Game Space ensures this by having a flexible technology stack and compatibility with public EVM and non-EVM channels. Additionally, the Game Space system allows the SDK integration to work with any game engine, so there are no restrictions or incompatibilities with games on the market. Game Space is convinced that GameFi as a Service represents the next stage in the growth of Web3.
According to DappRadar, top VCs invested a record $4 billion in GameFi in 2021, up from $80 million in 2020. The capital invested in GameFi in 2021 is 5,000% higher than in 2020 and in 2022, more $6 billion has already been raised in the GameFi industry for companies like Mobox, Sandbox, and Epic Games, etc.
You can see it firsthand in how OpenSea, Rarible, and other top NFT marketplaces have disrupted traditional Web2 services. The same is now happening with Game Space, which provides game companies with a GameFi platform as a fast and cost-effective service that can help their Web1 and Web2 games transition smoothly to Web3.
Why would a game company use the Game Space GaaS model?
Instant gratification is a big driving force behind Web3 adoption. Businesses want seamless access to core services that someone else provides and manages. Deloitte CEO Mohit Mehrotra says, “There are several other forces driving the popularity of ‘software as a service’, including the desire for customization and access rather than ownership. Moreover, the GaaS model, in particular, democratizes business functions. Businesses don’t need to spend time and money building departments and/or software. Now they can deploy out-of-the-box GameFi games”
Eight in 10 companies say “software as a service” has helped their organization reinvent business processes, develop new products and change the way they sell to customers. Additionally, Game Space offers businesses far more flexibility than those listed.
With the success of the “GameFi” industry, it’s very clear why Game Space has been so successful so far in raising seed funding of over US$7 million from highly accredited investors, publicly traded games and exchanges with their current seed. round ending in the third quarter of 2022 and their private round open until the fourth quarter, allowing Game Space with the resources to work with major AAA game studios.
Gaming companies cannot upgrade their systems to Web3 fast enough to keep up with market demand. Users expect changes and new content instantly. The reason for Game Spaces early success is their ability to work with major AAA game studios to help them upgrade their games to Web3 in days and be able to add or remove what they need in real time and their own will. . Game Space has helped traditional game companies transition to GameFi apps and combines its GaaS software offering solutions that meet the needs of every business and consumer.
How Game Space Marries Gaming
The Game Space model is a natural fit for gaming. Medium to large sized businesses must compete effectively and efficiently for sales in a crowded marketplace. With Game Space, businesses can launch a direct-to-consumer multi-channel solution without having to build anything in-house. Everything the business needs is available at your fingertips.
With the game space management system, game operators can easily distribute game NFTs via mystery boxes, airdrops and lists. Game Space has also linked multiple channels and networks with a one-button deployment solution to help game companies quickly publish to multiple mainstream public channels, including BSC, ETH, SOL, POLYGON, and more.
Michael Cameron also said that the Game Space GameFi platform as a service has been in development for over a year. The new funds will be used to continue the development of the GaaS platform, including the second phase of the NFT exchange engine, the multi-chain deployment, the enterprise administration panel, the Gaming DAO components, the inter NFTs -games, etc
All technical aspects of maintaining a safe and secure system are handled by Game Space. Getting development, token economics, and business processes right is such a big task and it can be expensive to build a team to get it done. However, using the Game Space GaaS platform can save up to 90% of the initial cost and time compared to developing such a system in-house.
The reason Game Space is the perfect solution to help game businesses is because they already have the knowledge, people, processes, technology stack, partners, and SDK ready to go. Game Space is a way for companies to focus on what they do best while outsourcing the parts where they aren’t as strong. Game Space acts as a plug-and-play system, allowing businesses to choose the business services they need and forget about the ones they don’t. Game Space is the next step in the evolution of GaaS and will continue to connect and collaborate with major corporations and gaming guilds around the world.
Game Space has already signed strategic cooperation with a number of listed game companies, and several AAA-rated game titles are already testing access to the Game Space GaaS system. Many titles have over 10 million users in markets such as Southeast Asia, Japan, South Korea, and South America. These games are expected to complete the chain reform in the second quarter of this year and release blockchain versions of their games by 2022.
You can reach Game Space on their website at https://game.space or on their Twitter account at https://twitter.com/Gamespace_NFTs
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