a16z Launches $600 Million Metaverse Gaming Fund
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a16z Launches $600 Million Metaverse Gaming Fund

Andreessen Horowitz has launched a $600 million fund dedicated to web3 gaming.

a16z Launches $600 Million Metaverse Gaming Fund
One day after publishing its State of Crypto 2022 report, VC fund Andreessen Horowitz (a16z) announced the launch of a $600 million fund dedicated to web3 gaming startups.

The "GAMES FUND ONE" will invest in three key areas: game studios, game and consumer applications like Discord, and gaming infrastructure.

a16z expects gaming to play a key role in social lives and expects the coming metaverse to "be build by game companies using games technologies." The most successful games today are communities that retain loyal, long-term users, and a16z sees games "driving innovation across the entire consumer ecosystem." The company said:

"And long term, we believe games infrastructure and technologies will be key building blocks of the Metaverse, an opportunity that dwarfs the current $300 billion game industry itself."

a16z also pointed out its long-standing history of investing in gaming companies like Zynga, Oculus, and Epic Games.

The fund is joined by other industry leaders and visionaries like David Baszucki, founder of Roblox; Jason Citron, founder of Discord; Marc Merrill, co-founder of Riot Games; Mike Morhaime, co-founder of Blizzard; Aleks Larsen and Jeffrey Zirlin, cofounders of Sky Mavis; Kevin Lin, co-founder of Twitch, Mark Pincus, founder of Zynga; and Riccardo Zacconi, founder of King.

According to Cointelegraph, this completes nearly $3 billion in investments committed by venture funds and gaming companies in the last month. Only two days ago, Twitch co-founder Kevin Lin announced a $24 million Series A raise for his DuskBreakers game. The biggest recent investment came from Epic Games, which raised one billion dollars each from Sony and Lego to build its metaverse.
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