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Andreessen Horowitz has introduced $600 million in funding for its new Games Fund One, an âinaugural fund dedicated to building the future of the games industry.â
a16z Looks to the Metaverse
Andreessen Horowitzâgenerally styled a16zâhas introduced a devoted fund for sport improvement with an emphasis on Web3 and Metaverse functions. Stating in its announcement that âthe coming Metaverse will be built by game companies,â the Silicon Valley funding big is placing up $600 million to steer the route of its improvement.
The agency introduced three essential âthemesâ it will make investments in: sport studios, infrastructure, and client attraction. Citing the success of the preferred on-line video games in the marketplace, akin to Fortnite and League of Legends, a16z stated that it thinks that video games will change into the âdominant way people spend time,â and claimed that probably the most modern firms will likely be constructed round client communities.
While Games Fund One is a16zâs first fund devoted to video games, the agency has backed many profitable sport initiatives. Its earlier investments embody Zynga and Oculus and the agency has invested in veteran expertise from notable studios akin to Riot Games and Epic Games. The firm stated that its expertise âhas cemented [its] belief that games require a specialized focusânot just in dedicated investing capital, but also in operational prowess thatâs as unique and forward-thinking as the games industry itself.â
a16z is just not completely a crypto-oriented enterprise capital agency, nevertheless it has demonstrated itself to be dedicated to the area and keen to speculate in its progress actively. In June of 2021, it dedicated $2.2 billion to funding crypto and blockchain innovation. At the start of the 12 months, it was reported that it was searching for one other $4.5 billion for related functions, though that increase continues to be but to be confirmed.
The firm has been publicly optimistic about crypto and blockchain for a number of years now. In 2018, Marc Andreessen famously in contrast the rising asset class to the early days of the Internet, and extra not too long ago itâs invested in main initiatives like Solana, Sky Mavisâ Axie Infinity, and Uniswap.
Disclosure: At the time of writing, the creator of this piece owned BTC, ETH, SOL, and several other different cryptocurrencies.Â
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