A16z seeks to take gaming to a whole new level through Web3 and the metaverse by launching a new fund. It aims to support several startups and projects in various areas, including gaming studios, infrastructure, gaming, and consumers. The new fund complements A16z’s investments in other gaming and metaverse-involved startups.
GAMES FUND ONE – the new fund will be used to invest in three main areas, namely game studios, consumer applications, and gaming infrastructure providers. A16z has been very much keen on gaming and creating experiences. It’s the latest funding, together with other venture funds in the space, bringing the total to $3 billion in a month. A16z highlighted the billions of dollars in revenue that games like Minecraft generate.
The venture capitalist firm believes the metaverse will be built by game companies using game technologies. The industry has already solved a number of problems that need to be resolved to create the metaverse. Games will dominate the way people spend time. The new fund, GAMES FUND ONE, is solely dedicated to games. A16z already has in its kitty successful game-related projects including Oculus. Zynga, a game developer, said the investments sealed its belief that games require a specialized focus.
A16z said it will continue to add more functions and develop deeper networks that are tailored to the games ecosystem. The firm wants to help its portfolio companies with everything from building digital communities, managing their virtual economies and IP licensing best practices, etc.
The metaverse in the gaming field will see the emergence of new technologies, taking the gaming experience to a whole new level.