22 Apr Game Space: One of the First GaaS “GameFi as a Service” Platform
On April 22nd Michael Cameron the CEO and Co-founder of Game Space announced that it has released one of the first GaaS “GameFi as a Service” Platform. Game Space also announced that it had received more than US $7 million in financing. This round of financing is jointly led by top-tier VCs, Listed Gaming companies and top-tier Exchanges.
Game Space provides a one-stop GameFi as a Service for large gaming companies and AAA titles, one line of code SDK integration, as well as an NFT exchange engine that can be embedded in games, helping the GameFi project shorten the launch time by up to half a year and greatly reducing the threshold for game companies to enter into Web3.
Game Space focuses on being a one-stand solution for AAA gaming studios, making sure there are no limitations for the Gaming companies Game Space works with. Game Space ensures this by having a flexible Tech Stack and compatibility with both EVM and non-EVM Public chains. Also, the Game Space system allows SDK integration to work with any gaming engine so there are no restrictions or incompatibility with any games on the market. Game Space strongly believes GameFi as a Service represents the next stage of Web3 growth.
According to DappRadar, major VCs invested a record $4b in GameFi in 2021, compared to $80m in 2020. The capital invested in GameFi in 2021 is 5,000% higher than in 2020 and in 2022 more than $6b has already been raised in the GameFi industry for companies such as Mobox, Sandbox and Epic Games, etc.
You can see this firsthand in the way OpenSea, Rarible and other top-tier NFT marketplaces have disrupted traditional Web2 services. The same thing is now happening with Game Space, which is providing gaming companies with a fast and cost-effective GameFi as a Service platform that can help their Web1 and Web2 games transition smoothly to Web3.
Why Would a Gaming Company Use the Game Space GaaS model?
Instant gratification is a big driving force behind the adoption of Web3. Companies want frictionless access to core services that someone else delivers and maintains. Deloitte leader Mohit Mehrotra says “There are several other forces driving the popularity of “software as a service” including the desire for personalization and access instead of ownership. Further, the GaaS model, in particular, is democratizing business functions. Businesses do not need to spend time and money to build up departments and or software. Now, they can deploy ready-made GameFi Games”
Eight out of 10 companies say “software as a service” has helped their organization reinvent business processes, develop new products and change how they sell to customers. In addition, Game Space offers companies much more flexibility than just those listed.
With the “GameFi” industry being so successful, it’s very clear why Game Space has had so much success so far raising an initial financing seed round of more than US $7 million from very accredited Investors, VCs Listed Gaming companies and Exchanges with their current seed round ending in Q3 of 2022 and their private round open until Q4, Enabling Game Space with the resource’s to work with Large AAA Gaming Studios.
Gaming companies cannot upgrade their systems to Web3 quickly enough to keep up with the market demand. Users expect change and new content instantly. The reason for Game Spaces’ early success is their ability to work with large AAA gaming studios to help them upgrade their games to Web3 in a matter of days and be able to add or remove what they need in real-time and at their own will. Game Space has helped move traditional gaming companies to GameFi Applications and combines its GaaS software giving solutions that fit the needs of every business and consumer.
How Game Space marries up with Gaming
The Game Space model is a natural fit for Gaming. Medium to large size companies must effectively and efficiently compete for sales in a crowded marketplace. Through Game Space, companies can launch a multi-chain direct-to-consumer solution without having to build anything in-house. Everything the business needs is available to use right at your fingertips.
Through the Game Space Management System, game operators can easily distribute game NFTs through Mystery Boxes, Airdrops, and Listings. Game Space also bridged together multiple chains and networks with a one-button deployment solution to help gaming companies quickly publish on multi mainstream public chains including BSC, ETH, SOL, POLYGON, etc.
Michael Cameron also said that the Game Space GameFi as a Service platform released has been in development for more than 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, multi-chain deployment, Enterprise Admin panel, Gaming DAO components, cross-game NFTs, etc.
All the technical aspects of maintaining a safe and secure system are managed by Game Space. Getting the development, Token economics and business process correct is such an important task and it can be expensive to build a team to achieve this. However, using the Game Space GaaS platform can save up to 90% of upfront costs and time compared to developing such a system in-house.
The reason Game Space is the perfect fit for helping Gaming companies is they already have the knowledge, people, processes, tech stack, partners and SDK ready to go. Game Space is a way for businesses to focus on what they are best at while outsourcing the parts where they are not as strong. Game Space acts as a plug-and-play system, so companies can choose the business services they need and forget the ones they don’t. Game Space is the next step in GaaS evolution and will continue to connect and collaborate with great businesses and gaming guilds around the world.
Game Space has already signed a strategic cooperation with a number of listed game companies, and several AAA-rated gaming titles are already testing access to the Game Space GaaS system. Many of the titles have more than 10 million users in markets such as South East Asia, Japan, South Korea, and South America. These games are expected to complete the chain reform in Q2 of this year and release blockchain versions of their games within 2022.
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