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Vividthree Deepens Push into Nft Gaming Industry with Investment in GammaR By BTC Peers

by Mike Robinson

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Vividthree Pushes into Nft Gaming Industry With Investment in GammaR

Blockchain Game Alliance (BGA1) 1 has collected data that shows NFT game revenue generated $2.32 Billion in third quarter. It accounts for 22 percent to all NFT sales. Many firms are now entering the NFT gaming market to capitalize on the increasing popularity of Non-Fungible Coins. Vividthree is one such company, having recently signed an investment agreement with GammaR (a private sector firm based in Singapore).

The investment is in the form of an agreement to subscribe for convertible loan notes (“Loan Notes”) of about $4.08 million in GammaR, at an interest rate of 3.5 percent per annum for a period of three years, starting from the date of disbursement. The Loan Notes can be converted into controlling shares in GammaR by the firm at any point during this time. It is expected that Vividthree’s internal resources will finance the loan and, if need be, by an additional fundraising event. If the company defaults, the Loan Note is repaid immediately at the principal amount along with all accrued interest.

Also, read Quentin Tarantino’s Announcement of Dates for the NFT Auction of Scenes From Fiction Screenplay

In a press release by Vividthree, the firm’s Managing Director, Mr. Charles Yeo, noted that partnership with GammaR will offer the firm a source of gaming IPs and opportunities to leverage the growing popularity of NFT blockchain games. Therefore, the investment would ensure that Vividthree is better positioned to capitalize on the increased growth of the global gaming industry, especially the surge in “interest in NFT and blockchain games in particular.”

GammaR is a company founded by Jonathan Zhang. It consists of people from diverse backgrounds who have knowledge in digital marketing, mobile gaming and blockchain technology. Zhang held previous senior managerial positions in private and public industries before starting GammaR. GammaR aims to provide small developers with platforms and resources to help them build and monetize new ideas. It also hopes to capitalize on the popularity of NFTs, digital assets and metaverses.

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