A16z Launches $600 Million Fund Focused on Web3 Games Cryptocurrency

A16z has launched a new fund that aims to invest $600 million in gaming experiences, including Web3 and Metaverse. Aiming to build the future of the game industry, the fund aims to support various startups and projects in various fields, including game studios, the interface of games and consumers, and infrastructure. This move complements the investments the VC has made in other startups involved in gaming and the metaverse.

A16z doubles the game

The executives of a16z seem to be drawn to the intersection of metaverse, web3 and gaming that is happening in the industry right now. The company announced the launch of a $600 million gaming fund called Games Fund One, which aims to propel industry startups in three key sectors, including game studios, game relationships and infrastructure construction.

The fund bases its operation on the belief that “games will play a central role in shaping the way we socialize, play and work in the next century”. This is a natural step forward from the company’s investments in traditional and Web3 game startups, including Epic Games and companies like Metatheory and Sky Mavis.

On how the fund could help startups in their portfolio, the company said:

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

A metaverse opportunity

A16z supports the idea that these investments will also be essential for the development of the metaverse, an alternative world in which people can interact. In that sense, a16z said:

We believe that game infrastructure and technologies will be key elements of the metaverse, an opportunity that dwarfs the current $300 billion game industry.

The introduction of the gaming metaverse means that new technologies may emerge that can support such activities in the virtual world. These gaming experiences can also bring tokens into the environment, intended to meet the need for native payments in the region. Recognizing this potential, A16z states that “gaming is also driving innovation in the consumer ecosystem, pioneering… monetization such as microtransactions, battle passes and Web3 tokens.”

The metaverse concept is already seeing significant multi-party investment, and Citi estimates that the total market for the metaverse economy could reach $13 billion by 2030, attracting more than $5 billion.

What do you think of the $600 million gaming fund launched by a16z? Tell us in the comments below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. Describing himself as late in the game, he entered the cryptosphere when the price surge happened in December 2017. With a background in computer engineering, living in Venezuela and influenced by the cryptocurrency boom in the social sphere, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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