- A16z, the venture capital firm, announces a new $600,000,000 fund focused on metaverse.
- This is Andreessen Horowitz’s another step toward the digital assets sphere.
- It plans to use the fund to invest in game development studios, consumer applications that facilitate support games, and the framework of the virtual world.
A16z Quite Optimistic About The New Technologies
Andreessen Horowitz, the venture capital firm, has recently announced its plans to roll out a new $600,000,000 metaverse as it moves forward with its digital assets plans.
According to the latest blog post by the company, a16z announced the unboxing of the Games One Fund, which is a fund focused on providing support to innovation in the gaming industry and developing the underlying infrastructure of the metaverse.
A16z cites that it plans on utilizing the fund to invest in game development studios, consumer applications that facilitate support games, and the framework of the virtual world itself. The firm is quite optimistic that the metaverse is the future of gaming.
It highlights that as games evolve in the virtual worlds and online services, the demand for tools and services required to build great games is skyrocketing. And not only is this infrastructure important for games in its own right, but they also believe that the coming metaverse will be built by game companies using game technologies.
The company signifies that video games have went through a radical transformation over the past decade, becoming social media-like networks that can use Web3 virtual assets.
And that games are also powering innovations across the whole consumer ecosystem, pioneering best-in-class mechanisms for user engagement, monetization, and retention, like battle passes, microtransactions, and Web3 tokens.
More and more entities seem to be inclined towards gaming and metaverse now. The concepts grew by leaps and bounds last year, attracting massive frenzy. This fund by Andreessen Horowitz seems to be a considerable step by the VC firm as the new technologies are expected to disrupt the future innovations highly.
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Source: https://www.thecoinrepublic.com/2022/05/21/andreessen-horowitz-rolls-out-new-600000000-metaverse-fund/