Gala Games, a blockchain-gaming platform, and crypto investment firm C2 Ventures have formed a $100 million fund to invest in play-to-earn games, metaverse environments, and other projects built using blockchain technology.

• Gala Games said the fund will invest in game developers and decentralized gaming projects.

• C2 Ventures is a crypto investment firm founded by the former head of blockchain investments at Huobi Global, Ciara Sun.

• “Through our new fund with C2 Ventures, we aim to support a new class of developers who can build genuinely entertaining games powered by blockchain technology,” James Olden, chief strategy officer at Gala Games, said in a statement.

• Gala Games said it appointed Huobi Global as a partner in an advisory role when it comes to projects on marketing and Web 3.0 growth. The crypto exchange will also work with teams on future token listings.

• Global gaming revenue is expected to reach $200 billion in 2024, according to e-sports analytics firm Newszoo, the companies said.