Blockchain-based games have seen a surge in popularity, but playing them is getting expensive. Play-to-earn games like StepN require players to purchase an NFT before they can participate, while other crypto video games offer users pricey upgrades such as virtual avatars and distinctive skins or costumes.

One major consideration for Halliday will be how to model risk associated with its loans since the company will be paying game developers upfront for digital assets on behalf of its users. Halliday has developed its own smart contracts that “wrap” NFTs, meaning that gamers possessing those wrapped NFTs can use the underlying object but cannot sell, transfer or hold the rights to the NFT itself.

Buy Now, ‘Play’ Later: Halliday Bags $6M Seed Round Led By A16Z

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