Sunday, July 21, 2024

The $150 million new fund from VC firm Konvoy is targeted at blockchain-based games.

The advent of video gaming is currently seen all around the world with billions of gamers active on smartphones, consoles and PCs. This includes even a few billion who are watching them play like in the Twitch-based communities. The logical next step for the ever-expanding gaming sector is building on the robustness of blockchain-based games. The eminent American venture capital company Konvoy occupies a notable place in the crypto gaming industry. They once again rise to the occasion with their multi-million dollar project aimed at giving life to blockchain-centric gaming innovation.

This is hardly Konvoy’s first crypto-related game funding rodeo. They have previously invested over $8 million in NFT gaming. In 2020, the firm allocated over $60 million to invest in the overarching boom of the gaming industry. As their latest project, they are bringing an impressive $150 million for investing in development of advanced gaming tech, brand-new game platforms and even invigorating Web 3-specific games.

Blockchain Gaming To Receive Massive Boost

The founders of the company are looking for blooming gaming business experts who will pave the future of gaming. This fund throws light on their passion to become the best gaming-centric investment firm on earth. They are well-aware of the potential of blockchain gaming and saw that there were growing trends worldwide in the last two years. Owing largely to people spending reclusive time at home, this period became a catalyst for millions of people depending on gaming for the purpose of consuming entertainment and socializing in online spaces. They are certain that the gaming sector is going to rise above growing market concerns and the uncertainties of crypto environment.

Though many crypto companies are backing gaming ventures, Konvoy is the first in recent times to consistently dedicate itself to promoting blockchain-based gaming. The best part about this crypto-investing project is that it amassed an additional investment from their chosen 30+ different companies that together invited a whopping $450 million for the purpose of crypto gaming.

This blockchain-funding project also highlights the ambitions of the firm to surpass their present geographical roots in Western markets like Europe and North America. The firm has already hit their targets here and is set to expand into more markets such as African, Indian, Latin American, East Asian markets to attract more gaming enthusiasts. Konvoy’s A-list beneficiaries of this project include the likes of Axie Infinity and Ready Player Me who will be working on crypto gaming over the next 2 years. Blockchain games continue to attempt their rise in popularity while braving turbulence.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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