Fun

Griffin Gaming Partners Launches $750 Million Gaming and Web3 Fund

News Feed - 2022-03-09 02:03:11

Griffin Gaming Partners Launches $750 Million Gaming and Web3 Fund


Griffin Gaming Partners, a venture capital firm specializing in gaming-related investments, has revealed the launch of its second gaming-related fund. The fund, which was reportedly oversubscribed, managed to raise $750 million to support gaming initiatives, including Web3-based and blockchain endeavors. Griffin Gaming Partners has now amassed more than $1 billion AUM. Griffin Gaming Partners Raises Sizable Gaming-Related Fund


Griffin Gaming Partners has announced the launch of its second gaming-related fund, which will focus on investing in seed and growth rounds of companies dedicated to building blockchain-powered or traditional games. The fund, which was reported to be oversubscribed raising $750 million, is one of the biggest funds dedicated to interactive entertainment investments.


According to numbers coming from the firm, gaming has become a ubiquitous form of entertainment, surpassing movies, music, and books combined. Per reports, the sector is expected to grow by 248% over the next decade. This opportunity is what is said to fuel Griffin Gaming Partners to aggressively invest in the industry.


Peter Levin, one of the founding partners of the firm, clarified the way in which these funds will be spent. In an interview given to Forbes, he stated:


We’re not a spray-and-pray fund. We’re not going to have 70 companies in the portfolio at any given time. We’re going to continue to take that disciplined approach.


With this investment, the firm now has more than $1 billion in assets under management, including the numbers from its first fund, reported to have raised $235 million in November. Web3 and Metaverse Growth


While numbers suggest interest has seemingly waned when it comes to metaverse and NFTs recently, companies are still betting big on the future of this blockchain-based technology that can be applied to gaming. The firm has already put funds behind these companies, with investments in Alethea AI, a protocol that allows users to create smart NFTs, and Chill Chat, a Solana-based metaverse gaming platform.


However, Griffin Gaming Partners also invests in groups that are not classified as gaming companies, and which are at the intersection of other technologies and gaming. This is why the firm has already invested in initiatives such as Discord, the messaging company, which is not a gaming but a gaming-adjacent company.


According to Nick Tuosto, managing partner of the firm, these complementary investments give Griffin Gaming Partners the ability to bolster its gaming reach. He further stated:


Our thesis is simply that, with our dedicated focus and analytical capabilities, we can make sense of enormous quantities of data and see around corners. Tags in this story fund, Gaming, gaming adjacent, Griffin, griffing gaming partners, Metaverse, NFTs, web 3


What do you think about the new Web3 and gaming-related fund launched by Griffin Gaming Partners? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Thailand Seeks to Offer Russian Tourists Crypto Payment Option Amid Fiat Sanctions NEWS | 11 hours ago Binance Launches Bitfinity, a Payments Company Targeting the Web3 Economy NEWS | 20 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGoldman Sachs’ Blankfein Asks Why Crypto Isn’t Having a Moment Despite Inflating US Dollar, Freeze Orders Next articleAdaLend: The World’s Leading Cardano-Based Lending Protocol Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItEU Data Act Proposes Shutdown Function for Smart Contracts


The European Union has published its new Data Act, a law proposal that aims to regulate the generation and handling of data by the actors that harness it. The act, in its large scope, touches on the subject of smart ... read more.While the Fed Monitors the "Ukraine Situation Closely," Powell Still Expects a Series of Quarter-Point Rate Hikes Proof-of-Work Ban Removed From Europe’s Proposed Crypto Regulation US Senator Urges Regulators to Increase Scrutiny on Crypto as It Risks Undermining Sanctions Against Russia Mobius Capital Founder Explains Why Bitcoin Is Rallying Amid Russia-Ukraine War

News Feed

Avalanche to reward devs building layer-1 chains with $40M grant
Ezra Reguerra11 hours agoAvalanche to reward devs building layer-1 chains with $40M grantAn Avalanche spokesperson told Cointelegraph that the grant program will reward developers who create layer-1 chains and critical t
Turner Wright3 hours agoAlleged former Worldcoin employee says they’re in contact with authoritiesThe individual, whose Worldcoin employment could not be independently verified, claimed they witnessed “sloppy and/or
David Attlee3 hours agoTwo more crypto bills in the US: Law Decoded, July 17–24Last week was marked by two new legislative initiatives for the crypto industry in the United States.1975 Total views5 Total sharesListen t
$20M bridged ETH returns to ZKasino multisig, raising hopes for a refund
Martin Young4 hours ago$20M bridged ETH returns to ZKasino multisig, raising hopes for a refundThe 6,021 wstETH recently moved back equates to around two-thirds of the amount that went missing in the exit scam.1042 Total
Over 600 firms reveal billions in combined investment in Bitcoin ETFs
Prashant Jha12 hours agoOver 600 firms reveal billions in combined investment in Bitcoin ETFsMillennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.3164 Total views19 Total sharesListen
Economist Mohamed El-Erian Says Fed’s Characterization of Inflation as ‘Transitory’ the ‘Worst Call in History’ 
Economist Mohamed El-Erian Says Fed’s Characterization of Inflation as ‘Transitory’ the ‘Worst Call in History’  On Monday, December 13, following Friday’s U.S. c
Crypto Prices Consolidate, Handful of Altcoin Markets Pop, Bitcoin Accumulation Addresses Rise
Crypto Prices Consolidate, Handful of Altcoin Markets Pop, Bitcoin Accumulation Addresses Rise The price of bitcoin and a number of digital assets have been cons
Tim Draper Heaps Praise on Bitcoin Cash
Tim Draper Heaps Praise on Bitcoin CashBillionaire and venture capitalist Tim Draper has praised bitcoin cash after recently purchasing the coin. Lauding the ease of use as well as
Crypto investment products see $584M outflow as Bitcoin descends to $60K
Nancy Lubale7 hours agoCrypto investment products see $584M outflow as Bitcoin descends to $60KApprehension over a delay in interest rate cuts, a strengthening DXY and softness in Bitcoin price back the $584 million outf
Coinbase sees infinite interoperability potential with Ethereum and USDC
Derek Andersen2 hours agoCoinbase sees infinite interoperability potential with Ethereum and USDCCoinbase head of tokenization Anthony Bassili described plans for its Base network at TokenizeThis 2024 in Miami.650 Total
Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security
Binance CEO Warns of "Profound Impacts" on Crypto Industry if BUSD Is Ruled as a Security Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto
Mark Cuban Won’t Invest in Bitcoin ETF, Prefers to Buy BTC Directly
Mark Cuban Won"t Invest in Bitcoin ETF, Prefers to Buy BTC Directly The owner of the NBA team Dallas Mavericks, Mark Cuban, has said “no” to investing in bitcoin-base