The biggest venture capital firm Andreessen Horowitz (a16z) is facilitating a $600 million funding under an umbrella name ‘Games Fund One’ for Web3, Metaverse, and other GameFi Projects. The funds are specifically dedicated to the gaming startups to conquer unprecedented growth.
For several years, a16z has been a constant support and most prominent investment firm in gaming and other related focused startups. Previously the a16z invested in companies like Epic Games, Sky Mavis, Zynga, and even Roblox. While Game Fund One will going to be the only first-ever funding dedicated to the gaming industry.
Game Fund One will aspire to many game developers and various gaming businesses such as gaming studios, gaming, and consumer initiatives, internal infrastructure, tools, and hardware and aims to locate talent acquisitions in the gaming sector.
Meanwhile, some of the remarkable investors who have pooled their capital in the Game Fund One are
- Founder of Roblox, David Baszucki,
- Jason Citron Co-Founder of Discord,
- Co-Founder of Riot Games Marc Merrill,
- Mike Morhaime, Co-Founder of Blizzard
- Aleks Larsen and Jeffrey Zirlin, Co-Founder of Sky Mavis
- Kevin Lin, Co-Founder of Twitch
- Mark Pincus, founder of Zynga and,
- Riccardo Zacconi, founder of King.
Last year a16z allocated the largest crypto fund of $2.2 billion for investing in crypto industries which were building teams, developing networks, and prioritizing the changing internet ecosystem. According to a16z, they have been investing in crypto assets since 2013 and they look forward to continued investments despite market fluctuations.
What is Games Fund One?
Games Fund One is a pool of funds dedicated to building the future of the games industry. a16z have been in the industry of games and funding for more than a decade and hence to drive the creativity to a new era, they have initiated the fund. The $600 million funds will be used for variety of activities such as supporting the next generation of gamers and developers.
The latest blog post by Games Fund One was released by Andrew Chen, Jonathan Lai, and James Gwertzman who are General Partners at a16z. According to the blog post, a16z have noticed a tremendous growth in innovations in the entire consumer ecosystem of the gaming industry. In a matter of few years, the best-in-class games now have better user engagements, retention and monetization, with excellent microtransaction facilities involving Web3 tokens also.
Moreover, the $600 million fund will be used in more deeper research for game developers and networks. The aim to build a gaming ecosystem will serve its purpose to game organizations which are building digital communities, managing virtual economics, and licensing for best practices. Interestingly, a16z have eyes on crypto-related technologies like play-to-earn gaming model, instant games and AR-VR gaming platforms.
Whereas, some of the next-generation games like Fortnite, League of Legends, and Minecraft have the ability to retain their loyal consumers, better user interface graphics, with which they generate billions of dollars in revenue every year. The development of technologies with better coding capabilities is the key factor in this huge success.