Web3 Gaming is The Next Big Thing: Konvoy Ventures

The 2020 pandemic shattered the hearts of the offline entertainment industry.
No one can live without fun. People need a virtual way to socialize.
Konvoy Ventures capitalized on people’s desires through the world of Web3 Gaming.

The Post-Pandemic Era

2019, a year when the offline industries such as physical gaming, sports complex, gymnasiums, hospitality, and theatricals were thriving. Soon, the COVID lockdown entered the face of planet earth. BOOM! Do you remember the early 2020s? Those were the times when we were afraid even to buy groceries from our nearest stores. This behaviour was not shocking as the lockdown happened so quickly that it didn’t buy humanity the time to adjust.

This created an unparallel need, especially in youngsters worldwide, to continue their lives virtually. As they couldn’t play sports in the real world, they wanted an equivalent option offered online. This fueled one particular domain. (Drumroll)

The Web3 Gaming

Web3 Gaming, sometimes called play-to-earn, play-to-own, crypto, blockchain or NFT games, is an industry of digital games which uses blockchain technology as an underlying component of the games’ economy.

Rise Of A New Industry

This boom and the sudden need to play online led to aggressive decision-making in the early-stage investment firm Konvoy Ventures.

According to their statement. The firm is investing $150 million to create assets in multiple Web3 worlds, especially in Web3 Gaming. This is being done through multiple Pre-Seed, Seed, and Series-A Funding rounds in Web3-based startups.

The conviction of Konvoy Ventures towards Web3 Gaming is shown by planning to deploy more capital into around 30 early-stage companies. These investment decisions will be made in the span of around the next two years.

Founded in 2017, Konvoy Ventures Started by focusing on nations like North America, Europe, and Africa. Soon, as Web3 Gaming expanded to other countries, the investment firm entered the Asian markets of Korea and India. This is not the first time when Konvoy Ventures has shown interest in Web3 Gaming. Once in 2020, the firm raised a funding round of $65 million in the particular field. The executive team plans to expand the corporation to around 20 employees by the end of 2023.

Konvoy Ventures firmly believes that Web3 Gaming is the next big technological revolution. The question is: Are they right about that?