A16z Launches $600 Million Web3 Gaming Focused Fund
A16z has launched a new fund that seeks to invest $600 million in gaming experiences including Web3 and metaverse. The fund, which seeks to build the future of the gaming industry, aims to back several startups and projects in different areas including gaming studios, the intersection of gaming and consumers, and infrastructure. This move complements the investments that the VC has made in other gaming and metaverse-involved startups. A16z Doubles Down on Gaming
Executives at a16z seem to be enticed by the intersection of metaverse, Web3, and gaming happening now in the industry. The company has announced the launch of a $600 million gaming fund called Games Fund One, which seeks to power startups in the industry in three key sectors, including gaming studios, gaming relationships, and infrastructure building.
The fund, according to the company, bases its operation on the belief that “games will play a pivotal role in defining how we socialize, play, and work over the next century.” This is a natural step up from the investments that the company has made in traditional and Web3 gaming startups, including Epic Games and companies like Metatheory and Sky Mavis.
On how the fund might help their portfolio startups, the company stated:
We will continue to add more functions and develop deeper networks that are tailored to the games ecosystem so we can help our portfolio companies with everything from building digital communities, to managing their virtual economies, to IP licensing best practices, to helping build their development teams. A Metaverse Opportunity
A16z supports the idea that these investments will also be key to the development of the metaverse, an alternate world in which people will be able to interact. In this sense, a16z declared:
We believe games infrastructure and technologies will be key building blocks of the Metaverse, an opportunity that dwarfs the current $300 billion game industry itself.
The introduction of the metaverse in the gaming field means that there could be an emergence of new technologies capable of supporting such activities in the virtual world. These gaming experiences can also bring tokens into the environment, directed to satisfy the need for native payments in the area. A16z recognizes this potential, stating that “games are also driving innovation across the entire consumer ecosystem, pioneering … monetization, such as microtransactions, battle passes, and web3 tokens.”
The metaverse concept is already subject to heavy investing by several parties, and Citi has estimated that the total market of the metaverse economy might grow up to $13 billion by 2030, attracting more than 5 billion people. Tags in this story A16Z, Crypto, fund, Gaming, Metaverse, monetization, Web3
What do you think about the $600 million gaming fund launched by a16z? 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. Tim Draper Bullish on Bitcoin Due to Its Inflation Hedge Traits NEWS | 4 mins ago Crypto Custody Firm Fireblocks Launches Web3 Services Suite NEWS | 12 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleFacebook Owner Meta Files Trademark Applications for ‘Meta Pay’ Covering Crypto Services Next articleTim Draper Bullish on Bitcoin Due to Its Inflation Hedge Traits 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 ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether