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Pluto Digital acquires strategic holding with the UK based computer gaming software studio

By Joy Dumasia

January 03, 2022

  • Asset Management
  • Crypto Wallets
  • Digital assets
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Pluto Digital has acquired a strategic holding in a leading UK-based computer gaming software studio to propel Pluto into the Play2Earn (P2E) market. P2E gaming is revolutionising the world of computer gaming as it decentralises the economic benefits of gaming to the players of the game. P2E refers to the concept of gaming in which a platform provides its players with a chance to earn any form of in-game assets that can be transferred to the real world as a valuable resource.

In addition to acquiring the strategic holding, Pluto and the computer gaming studio are in the process of forming a joint venture to launch a suite of blockchain-enabled games. P2E has already become one of the hottest and most significant areas of crypto, with the initial P2E games securing substantial token market caps such as Axie Infinitie (market cap of $6Bn) and Gala Games (market cap of $3Bn).

The investment and joint venture, which shall be formally announced in early January, is already well progressed in the concept development of the new portfolio of games and will focus on being high-quality gamer experiences, with the added benefit of providing the gamers with the ability to acquire and monetise game assets. By 2022, it is expected to launch NFTs and tokens to secure funding for the games without requiring additional equity capital.

Pluto Ventures has invested circa $5m across 90 different early-stage digital ventures this year across a range of different verticals, including Defi, NFTs and ‘Play to Earn’ gaming (P2E). The first quarter was dominated by Defi and NFT related technologies, with P2E becoming much more prominent during Q2 2021 and remaining a key area of focus throughout the rest of the year.

IBS Intelligence reported that Pluto Digital Assets, a crypto VC and tech company, has raised c.$40 million after closing its latest funding round. As a result, the company has surpassed $50 million total assets under management (AUM) within just 50 days of being established.

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