Andreessen Horowitz (a16z) is the latest venture giant to join the market of metaverse games as the firm has announced the launch of a $600 million fund aimed at the industry. The firm said in a blog post that the so-called GAMES FUND ONE will back game studios, infrastructure services and games themselves.
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Although a16z didn't explain requirements for funding, the firm hinted it will pay a lot of attention to video games similar in their business model as Fortnite, League of Legends or Minecraft.
"And long term, we believe games infrastructure and technologies will be key building blocks of the Metaverse, an opportunity that dwarfs the current $300 billion game industry itself."
In March this year, a16z executives Marc Andreessen and Chris Dixon joined the funding round for Curated, an investment fund aimed at buying and hodling "blue-chip NFTs." The fund led by Andrew Jiang and Todd Goldberg raised $30 million.
The fund wants to spend half of its capital in tokens from projects like CryptoPunks, Art Blocks and Bored Apes. The other half of the fund will be used to support "high potential collections" from creators with smaller existing markets.
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