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