Quantix Capital Will Invest $1M to Support Tezos Gaming Projects

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

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October 28, 2024 07:00 EDT

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Quantix Capital, a UAE-based venture capital firm, is partnering with TZ APAC, a prominent adoption hub for the Tezos blockchain based in Singapore, to catalyze gaming development on the Tezos platform.

In an announcement, the firm said the partnership includes a $1 million investment specifically earmarked for emerging gaming projects on Tezos. The two firms will not only provide financial backing but also provide a support network and mentorship from senior members at Quantix Capital and TZ APAC.

The firms said they aim to drive long-term growth within the Tezos ecosystem by empowering developers with both the resources and guidance they need to innovate in the gaming space.

Earlier this year, Singapore-based early-stage venture capital firm Farquhar VC partnered with TZ APAC, to support new talent in Asia. Farquhar VC said it plans to co-invest alongside the Tezos blockchain development team into upcoming Web3 games being built on the blockchain.

Commitment to Nurture Creativity

Quantix Capital managing director Jake Seltzer said the firm remains committed to this collaboration, emphasizing the potential of Tezos to support groundbreaking projects in Web3.

“Our investment is not just financial,” Seltzer stated, “it’s a commitment to nurture creativity and innovation among builders who are shaping the future of gaming and interactive entertainment,” said Seltzer.

Despite blockchain gaming’s relatively limited reach in the mainstream market—with over 80% of gamers yet to explore the technology—it presents an opportunity to redefine player engagement and franchise interactions.

A 2024 survey by OnePoll revealed that 52% of gamers remain unaware of blockchain gaming, and 32% have not yet tried it. However, blockchain technology holds the potential to solve persistent issues in gaming, such as permanent item ownership and new revenue models like play-to-earn.

With this investment, Quantix Capital and TZ APAC intend to use blockchain’s capabilities to bring projects to the Tezos ecosystem and broaden the reach of blockchain gaming.

$1M Fund Will Finance Promising Projects

The $1 million fund will finance promising projects on the Tezos blockchain, supporting innovative ideas that aim to revolutionize gaming.

However, this collaboration extends beyond investment, as Quantix Capital and TZ APAC are set to actively engage with the broader crypto and gaming communities to strengthen the visibility and adoption of Tezos-based solutions.

Jeremy Foo, head of gaming at TZ APAC, also commented on the partnership. “Tezos is all about real utility and empowering both players and developers to break free from traditional industry limitations. We’re focused on long-term growth, creating sustainable value, and enabling games to succeed through genuine engagement and user ownership,” said Foo.