2024

April

Yield

Venture capital firm Andreessen Horowitz (a16z) has announced it will be investing $30 million in technology-centric gaming startups, including AI, VR/AR and Web3 games.
“We are investing at the intersection of TECH x GAMES, which means AI/infra, 3D tools, VR/AR, web3 games, gamified consumer apps, and much more,” <a href="https://x.com/andrewchen/status/1774836708070343131" target="_blank" rel="noopener nofollow">announced</a>&nbsp;Andrew Chen, a general partner at a16z, who oversees a16z’s Games One Fund. 
The $30 million will be invested across the next 45 days via the firm’s <a href="https://cointelegraph.com/news/web3-startups-flock-to-accelerators-as-crypto-enthusiasm-surges">early-stage accelerator</a> “SPEEDRUN” program, Chen said in an April 1 X post, with $750,000 handed out to each startup that joins the program.&nbsp;
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 Source: <a href="https://x.com/andrewchen/status/1774836708070343131" target="_blank" rel="noopener nofollow">Andrew Chen</a>
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The program consists of a 12-week program, with participants supported with capital, as well as industry coaches, mentors, and a "community of ambitious founders,” said Chen.
Chen noted that <a href="https://cointelegraph.com/news/a16z-lobbying-plan-donate-politicians-support-crypto">a16z is open-minded</a> to a range of startups — from teams only in the ideas phase to teams with an established product and real revenue.
Competition into a16z’s SPEEDRUN program is fierce though, with only 1% of applicants admitted into the last cohort. However, Chen said 80% of companies from SPEEDRUN’s first cohort secured funding from investors following Demo Day.
<blockquote class="twitter-tweet">
 Also, a fun video from SR002 to give y'all a taste of what the Demo Day looks like:<a href="https://t.co/QgaWqIv7LR">https://t.co/QgaWqIv7LR</a>— andrew chen (@andrewchen) <a href="https://twitter.com/andrewchen/status/1774853197611589673?ref_src=twsrc%5Etfw">April 1, 2024</a>
</blockquote> 
Applications must be submitted by May 19, with the 12-week course running between July 29 and Oct. 20, 2024, in Los Angeles, California. 
Web3 graduates from a16z’s SPEEDRUN program include soccer-themed Matchday and nonfungible token-based Promodium, both Web3 games. 
Related: <a href="https://cointelegraph.com/news/web3-gaming-gets-bull-market-boost-new-launches-says-animoca-sandbox-founders">‘Tens of millions’ to enter Web3 through gaming in 2024 — GameFi execs</a>
Chen <a href="https://a16z.com/games-fund-one-building-the-future-of-games/" target="_blank" rel="noopener nofollow">oversees</a> the firm’s $600 million Game Fund One, which launched in 2022 and <a href="https://a16z.com/games/" target="_blank" rel="noopener nofollow">includes </a>investments in Roblox, Sandbox and Sky Marvis — the creators of the blockchain game Axie Infinity.
The Silicon Valley firm has also invested in blockchain-based gaming startups through its cryptocurrency division, such as Mythical Games, Yield Guild Games, Azra Games, <a href="https://cointelegraph.com/news/ccp-games-secures-40m-funding-for-upcoming-web3-game">CCP Games, </a>NOD games and Voldex.
The Web3 gaming market is projected to grow from $154 billion to $614 billion by 2030, <a href="https://www.fortunebusinessinsights.com/blockchain-gaming-market-108683" target="_blank" rel="noopener nofollow">according</a> to a January report by Fortune Business Insights — marking a compounded annual growth rate of 21.8%.
Magazine:<a href="https://cointelegraph.com/magazine/games-need-bots-illivium-founder-galaxy-fight-club/"> Web3 Gamer: Games need bots? Illivium CEO admits ‘it’s tough,’ 42X upside</a>

Andreessen Horowitz to invest $30M in tech-fueled gaming startups

Cointelegraph

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