On May 18th, venture capitalist a16z announced its first Web3 gaming fund called Games Fund One. In fact, the firm committed a whopping $600 million to the fund.
With Games Fund One, a16z aims to invest in the best founders in the game industry. But who will benefit from this fund in particular? Let’s find out.
What is A16z’s Games Fund One?
To begin with, Games Fund One is the first Web3 gaming fund by a16z. It only has one goal, which is to help fund and build the future of the games industry. With the firm allocating $600 million to this fund, they will invest in 3 themes related to the gaming sector as below.
- Game Studios: Firstly, the a16z games fund will focus on helping game studios that create multiplayer experiences in the games. This is especially so for games that enable user-generated content, such as The Sandbox.
- Gaming-related consumer apps: If you’re not sure what this refers to, think Discord. It is one of the best social apps out there that help gamers to build their community. Thus, a16z believes that as more people spend their time in games, more consumer apps like Discord are needed to support the gaming communities.
- Infrastructure: Lastly, as games evolve into virtual worlds like metaverse, companies will need more tools and services to help build these games. This is where a16z games fund will step in and help build the infrastructure to create the metaverse.
Who are the investors in this fund?
Apart from team members in a16z, you can find a suite of gaming veterans backing the Games Fund One. In fact, you can find David Baszucki, founder of Roblox, Jason Citron, founder of Discord, and Marc Merrill, co-founder of Riot Games backing the fund.
But that’s not all. We see Mike Morhaime, co-founder of Blizzard, Aleks Larsen and Jeffrey Zirlin, cofounders of Sky Mavis are invested in the fund too. Besides that, leaders from the likes of Twitch, Zynga, and King joined forces as well. Those who wish to apply for the fund can contact a16z for more info.
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