- A16z established a fund dubbed “GAMES FUND ONE” to make investments in game studios, gaming framework providers, and consumer applications.
- A16z team stated that the upcoming metaverse will be developed by gaming organizations utilizing gaming techs.
- This step by a16z tags a mammoth amount pledged by venture funds and gaming sector behemoths.
More Funds For Metaverse And Gaming
A16z (Andreesson Horowitz), a venture capital organization has released a $600 Million fund focused on gaming startups which will primarily concentrate on Web3 stating it believes “gaming framework and techs will be major building blocks in the metaverse.
Titled “GAMES FUND ONE” the fund will make investments in 3 core areas: gaming infrastructure providers, gaming studios, and consumer apps that assist player communities with Discord used as an instance.
The a16z team stated that the upcoming metaverse will be developed by the gaming organizations and that the sector has already resolved several of the issues that are required to be solved to make the metaverse a reality. It thinks games will become the major activity where folks will spend their time.
This step taken by a16z will tag around $3 Billion pledged by venture funds and gaming sector mammoths into Metaverse or Web3 gaming projects since mid-April. Venture organization White Star Capital jacked up $120 Million for its DeFi and gaming concentrated fund alongside a $200 Million allocation to blockchain gaming projects by Framework Ventures both occurring during April 2022.
Big Bucks For Metaverse
Metaverse projects are also bagging mammoth sums from gaming sector titans. The previous month, the popular battle royale game Fortnite’s creator, Epic Games, piled up a couple of Billion dollars to make a metaverse with funding from LEGO and Sony.
The a16z team indicated billions of dollars in revenue that games like Minecraft produce, utilizing the open world as an instance of a title that has retained a long-term active community that operates more like a social network.
Minecraft is at present the best-selling game and has witnessed 173 average monthly players over the previous 30 days as per figures from ActivePlayer, a game statistics platform, in spite of it being launched almost 11 years ago.
The fund is initially solely dedicated to games but the organization has backed successful gaming associated projects previously, involving VR organization Oculus and game developer Zynga stating that the investments “fastened their beliefs that games need a specialized concentration.”
Joining the fund were founders of game development organizations and well-liked games like Marc Merrill, co-founder of Riot Games, Sky Mavis’s Jeffrey Zirlin ad Aleks Larsen who owns the well-liked Axie Infinity blockchain game, and Metatheory founder Kevin Lin, which bagged $24 million in an a16z led funding round.
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Source: https://www.thecoinrepublic.com/2022/05/24/3-billion-set-for-web3-gaming-and-metaverse-as-a16z-rolls-600-million-in/