PANews reported on December 18 that according to VentureBeat, Big Time Studios announced the establishment of a $150 million Open Loot Fund to promote game development on the Web3 game platform Open Loot. The fund will provide financial support, marketing and development guidance to game studios to help develop high-quality crypto games.

The Open Loot platform has 1.5 million registered players, supports developers to mint and distribute digital assets through SDK, and rewards players and developers with $OL tokens. The platform has achieved nearly $500 million in transaction volume.