A16Z launched $600 million gaming and metaverse dedicated fund which is comprised of a pool of dedicated cash and a new internal structure that will locate acquisitions inside the gaming vertical so let’s find out more today in our latest cryptocurrency news.
The fund aspires to establish the future of the gaming industry that aims to support many businesses and initiatives in a variety of fields like gaming studios, the intersection of gaming and consumers, and also infrastructure. Games fund One is the name of the fund and all funds gathered here will be invested in three primary areas, Game studios, gaming infrastructure providers, and consumer applications that promote player communities. Game Fund One is the company’s first fund that is dedicated only to the gaming industry and the injection of the new funding will enable Andreessen Horowitz to expand its presence in $300 billion global video gaming businesses. A16z launched a $600 million funds and said:
“On the long run, we believe that gaming infrastructure and technology will be essential components of the metaverse. As games expand into virtual worlds and online services, the demand for the tools and services required to create excellent games is soaring.”
Among the fund’s backers are a variety of the gaming industry professionals like co-founders, Twitch, Blizzard, Discord, Roblox, and Zynga. The establishment of the gamers vertical came as another of the bets Facebook bragged about the gaming’s metaverse prospects. The huge sums are contributed by the gaming industry titans and also other metaverse endeavors. The developers of the popular Fortnite game Epic Games, also raised $2 billion last month from Sony and LEGO. The A16Z team however outlined that the revenue that games produce, and the open-world game as an example of the title maintained a long-lasting active community that acts as a social network.
Horowitz placed a wager on the upcoming technologies like games and web3 and all of this enhanced its conviction that games demand a special focus not just in terms of devoted investment money but in terms of operational expertise. A few other parties already invested in the Metaverse concept and CITI estimated that the metaverse economy’s market will hit $13 billion by 2030 and will draw more than 5 billion individuals.
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