Games Fund One will invest in game studios, consumer applications and game infrastructure providers with a16z.
Venture capital firm Andreessen Horowitz (a16z) has launched a $600 million fund dedicated to gaming startups focused on Web3.
Games Fund One, the fund will invest in three key areas: game studios, consumer apps that support gamer communities, and game infrastructure providers.
The team stated that they have solved the problems needed to create the “Metaverse“. He stated that the games are a very important activity to pass the time.
a16z stated that it has committed $3 billion to Web3 game or metaverse projects by venture funds and the gaming industry.
White Star Capital has raised $120 million for its DeFi and gaming-focused fund. It also allocated $200 million to Framework Ventures’ blockchain gaming projects.
Metaverse projects make big bucks from game industry giants. Epic Games has raised $2 billion to create a metaverse with funding from Sony and Lego.
The team at a16z drew attention to the billions of dollars in revenue generated by games like Minecraft. Minecraft is the best selling game of all time. It still has millions of active players.
The firm has also supported successful gaming-related projects in the past, including virtual reality company Oculus and game developer Zynga.
Famous people participating in the fund: Marc Merrill, co-founder of Riot Games. Aleks Larsen and Jeffrey Zirlin, co-founders of Sky Mavis, owner of the Axie Infinity blockchain game. Kevin Lin, founder of Metatheory.