Abu Dhabi Takes Center Stage with $150M Beam Ventures Blockchain Gaming Fund

3 min read | December 12, 2024 04:05 PM AEDT | By Team Kalkine Media

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Abu Dhabi Takes Center Stage with $150M Beam Ventures Blockchain Gaming Fund — Image source: Shutterstock

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Highlights

Beam Foundation announces a $150M blockchain gaming fund, Beam Ventures, set to launch in Abu Dhabi in 2025.

Focus areas include GameFi, blockchain infrastructure, AI, and augmented reality, with an accelerator program for startups.

Regulatory approvals in Abu Dhabi nearing completion, aligning with the city’s push for innovation.

The Beam Foundation has unveiled plans to establish Beam Ventures, a $150M blockchain gaming fund, in Abu Dhabi. Scheduled to launch in the first half of 2025, the fund will primarily focus on supporting projects in blockchain gaming, GameFi, and other emerging technologies like artificial intelligence, augmented reality, and user-generated content.

Local investors will finance the fund, positioning Abu Dhabi as a hub for blockchain innovation. Beam Ventures will also provide an accelerator program designed to help startups with brand development, market entry strategies, and business growth, fostering a broader ecosystem for technological advancements.

Technology Meets Ownership in Gaming

Beam Foundation’s platform operates on blockchain technology to enable game developers to create games where players have ownership of in-game assets. Currently, the platform hosts around 20 games, highlighting the practical application of blockchain in gaming. This approach ensures a decentralized and transparent ecosystem for developers and players alike, reinforcing the platform’s appeal.

Strategic Positioning in Abu Dhabi

The fund’s establishment in Abu Dhabi aligns with the city’s focus on becoming a global innovation hub. According to Beam Foundation’s Chief Strategy Officer, the regulatory licensing process is nearly complete, reflecting a strong alignment with Abu Dhabi’s supportive regulatory environment. The Beam team has collaborated with key stakeholders in the city, which has been recognized for its openness to innovation and advanced infrastructure.

Mark Borsten, the Chief Strategy Officer, shared insights on the initiative, describing how the foundation’s initial exploration visit to Abu Dhabi paved the way for partnerships with leading stakeholders. These collaborations are expected to play a pivotal role in the successful launch of Beam Ventures.

Blockchain Gaming’s Resurgence

The announcement comes at a time of renewed momentum in blockchain gaming, with the sector rebounding following the recent rally in the cryptocurrency market. According to a report by DappRadar, blockchain gaming accounted for nearly a third of the overall blockchain activity in November. The sector saw an average of 6.8 million daily active wallets and attracted $222M in venture capital funding during the period.

With Beam Ventures set to launch, the initiative represents a significant step forward for blockchain gaming, reinforcing Abu Dhabi’s position as a key player in global technology innovation.

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