Game on!

• Southeast Asia is a vibrant epicenter for gaming technology innovation, and blockchain gaming studios and startups now have a new way to raise funding. 
• MON Protocol, a Web3 intellectual property (IP) and games publisher, launched their first investment fund MON Ventures, with 500 Global as lead investor.
• The fund seeks to invest in seed and pre-Token Generation Event (TGE) stage blockchain applications, focusing on gaming and infrastructure. 
• Led by a team of former senior executives from Ubisoft, Sony, Activision, Warner Media, Bandai Namco, and Electronic Arts, MON Protocol has onboarded over 70 partner games to date, including AETHIR, NYAN Heroes, AVALON, Cross The Ages, and is projected to reach over 100 partner games before the end of 2024. 
• The community pre-sale of the MON Protocol Token hit 100% of its required allocation within 8 minutes, raising a total value of US$7.1 million at the time of the sale.
• Giulio Xiloyannis, co-founder of MON Protocol, shared, “We are long-term believers in the blockchain enabled gaming space, and the structure of MON Ventures supports our vision to continue expanding as a premier Web3 publisher, forming a network of cross-pollinating blockchain-native consumer and gaming IPs that will reap hyper-growth benefits through mutually beneficial network effects.”
• Khailee Ng, Managing Partner at 500 Global added, “I see game developers as entrepreneurs too; creating exceptional gaming experiences help build sustainable, scalable business models. That’s a key factor for gaming studios to succeed. We’re excited to fuel the creation of tomorrow’s Web3 gaming tech giants, going beyond investing capital to providing access to a global network of industry connections crucial in the early stages for long-term success.”
• Read the full story on e27.