A16z launched a fund to invest $600,000,000 in games experiences, including Web3 or metaverse. Funding the industry’s future is the goal of this fund. It will invest in several companies and projects, such as gaming studios, infrastructure and interactivity, among others. This investment is in addition to the VC’s previous investments in gaming-related startups.
Gaming Doubles for A16z
The combination of Web3, metaverse, and the current gaming scene in the industry seems to attract executives at a16z. Games Fund One (a gaming fund worth $600m) was launched by the company. This gaming fund aims to help startups within the gaming industry in three crucial sectors. These include gaming studios and relationships as well as infrastructure building.
The fund, according to the company, bases its operation on the belief that “games will play a pivotal role in defining how we socialize, play, and work over the next century.” This is a natural step up from the investments that the company has made in traditional and Web3 gaming startups, including Epic Games and companies like Metatheory and Sky Mavis.
Company stated that the fund may help startups in their portfolio.
As we continue to develop and add functions to our networks, which are specifically tailored for the game ecosystem, we will be able to help portfolio companies in everything, from managing virtual economies to building digital communities to IP licensing best practices to building their development teams.
A Metaverse Opportunity
A16z believes that such investments are key in the creation of the metaverse. This alternate universe will allow people to communicate. A16z stated that this is the meaning of:
Our belief is that games infrastructure and technology will become the key components of the Metaverse. This opportunity dwarfs the existing $300 billion gaming industry.
New technologies could emerge to support these activities, thanks to the introduction of the metaverse into the gaming industry. Tokens can be introduced to these gaming environments, in order to fulfill the demand for native payment within the region. A16z recognizes this potential, stating that “games are also driving innovation across the entire consumer ecosystem, pioneering … monetization, such as microtransactions, battle passes, and web3 tokens.”
Citi estimates that by 2030 the market for the metaverse economic might reach $13 billion. This would allow it to attract more than 5 million people.
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