A16z Launches $600M Web3 Gaming-Focused Fund – Bitcoin News

A16z has launched a new fund that seeks to invest $600 million in gaming experiences that include Web3 and the metaverse. The fund, which seeks to build the future of the gaming industry, aims to support various startups and projects in different areas, including game studios, the intersection of gaming and consumers, and infrastructure. This move complements the investments the VC has made in other startups involved in gaming and the metaverse.

A16z doubles up on games

The execs at a16z seem to be drawn to the intersection of the metaverse, Web3, and gaming that is happening right now in the industry. The company has announced the launch of a $600 million games fund called Games Fund One, which seeks to boost startups in the industry in three key sectors, including game studios, game relations, and infrastructure construction.

The fund, according to the company, bases its operation on the belief that “games will play a fundamental role in defining how we socialize, play and work during the next century.” This is a natural step forward from the investments the company has made in Web3 and traditional gaming startups, including Epic Games and the likes of Metatheory and Sky Mavis.

On how the fund could help its portfolio startups, the company stated:

We’ll continue to add more features and build deeper networks that fit the gaming ecosystem so we can help our portfolio companies with everything from building digital communities to managing their virtual economies, gaming licensing best practices, IP and help build your development teams. .

A Metaverse Chance

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 regard, a16z stated:

We believe that gaming infrastructure and technologies will be key components of the Metaverse, an opportunity that dwarfs the current $300 billion gaming industry.

The introduction of the metaverse in the field of games means that there could be an emergence of new technologies capable of supporting this type of activity in the virtual world. These gaming experiences can also bring tokens into the environment, aimed at meeting the need for native payments in the area. A16z recognizes this potential, stating that “gaming also drives innovation across the consumer ecosystem, pioneering monetization such as microtransactions, battle passes, and web3 tokens.”

The metaverse concept is already subject to heavy investment by various parties, and Citi has estimated that the total market for the metaverse economy could grow to $13 billion by 2030, attracting more than 5 billion people.

What do you think about the $600 million gambling fund launched by a16z? Tell us in the comments section below.

Serge Goshchenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as a latecomer to the game, entering the cryptosphere when the price surge occurred in December 2017. With a background in computer engineering, living in Venezuela and being impacted by the rise of cryptocurrencies on a social level, offers a different point of view. about the success of cryptocurrencies and how he helps the unbanked and underserved.

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