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Andreessen Horowitz to launch $600 million fund to invest in games and metaverses

Andreessen Horowitz Venture Company (a16z) reported on the launch of a $600 million fund focused on “game infrastructure and metaverse technologies.”

GAMES FUND ON will focus on funding studios, infrastructure startups and a wide range of applications that will revolutionize the gaming industry. The company’s analysts estimated the current market capacity at $300 billion.

At the moment, Web 3.0 is more of a set of ideologies, but virtual reality technologies being created for metaverses with models P2E will form the basis of this concept, the company said.

The structure will support portfolio companies from creating digital communities to selecting development teams, managing the virtual economy and licensing intellectual property rights.

The Fund attracted the following specialists as experts:

  • David Baszuki, founder of Roblox;
  • Jason Citron, founder of Discord;
  • Mark Merrill, co-founder of Riot Games;
  • Mike Morheim, co-founder of Blizzard;
  • Alex Larsen and Jeffrey Zirlin, co-founders of Sky Mavis;
  • Kevin Lin, co-founder of Twitch
  • Mark Pinkus, founder of Zynga;
  • Riccardo Zacconi, founder of King.

In the past, a16z has supported developers Zynga, Oculus, Roblox, and Axie Infinity.

Recall that in April, a16z opened a division for research in the field of cryptocurrencies and other technologies related to Web 3.0.

In March, Haun Ventures, led by former a16z general partner Kathy Haun, raised $1.5 billion in two crypto funds with a similar focus.

Previously, Pantera Capital and Uniswap Labs were launched with a focus on Web 3.0.

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My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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