Andreessen Horowitz has introduced $600 million in funding for its new Video games Fund One, an “inaugural fund devoted to constructing the way forward for the video games trade.”
a16z Appears to be like to the Metaverse
Andreessen Horowitz—generally styled a16z—has introduced a devoted fund for sport growth with an emphasis on Web3 and Metaverse functions. Stating in its announcement that “the approaching Metaverse will probably be constructed by sport corporations,” the Silicon Valley funding big is placing up $600 million to steer the path of its growth.
The agency introduced three major “themes” it will put money into: sport studios, infrastructure, and shopper attraction. Citing the success of the most well-liked on-line video games available on the market, resembling Fortnite and League of Legends, a16z mentioned that it thinks that video games will change into the “dominant means folks spend time,” and claimed that probably the most revolutionary corporations will probably be constructed round shopper communities.
Whereas Video games Fund One is a16z’s first fund devoted to video games, the agency has backed many profitable sport initiatives. Its earlier investments embrace Zynga and Oculus and the agency has invested in veteran expertise from notable studios resembling Riot Video games and Epic Video games. The corporate mentioned that its expertise “has cemented [its] perception that video games require a specialised focus—not simply in devoted investing capital, but additionally in operational prowess that’s as distinctive and forward-thinking because the video games trade itself.”
a16z will not be solely a crypto-oriented enterprise capital agency, however it has demonstrated itself to be dedicated to the area and prepared to put money into its progress actively. In June of 2021, it dedicated $2.2 billion to funding crypto and blockchain innovation. Originally of the 12 months, it was reported that it was in search of one other $4.5 billion for related functions, though that increase remains to be but to be confirmed.
The corporate 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 Web, and extra just lately it’s invested in main initiatives like Solana, Sky Mavis’ Axie Infinity, and Uniswap.
Disclosure: On the time of writing, the creator of this piece owned BTC, ETH, SOL, and several other different cryptocurrencies.