Silicon Valley-based venture capital firm Andreessen Horowitz is launching a new $600 million metaverse fund.
Dedicated to supporting innovation in the gaming industry and developing the metaverse’s underlying infrastructure, the investment giant announced its Games One Fund in a new company blog post.
Andreessen Horowitz anticipates that the metaverse is going to be the future of gaming. The fund will invest in the metaverse infrastructure, game development studios and consumer applications. The blog post states:
“Long term, we believe games infrastructure and technologies will be key building blocks of the metaverse.
As games evolve into virtual worlds and online services, the demand for tools and services needed to build great games is skyrocketing. Not only is this infrastructure important for games in its own right, we also believe that the coming metaverse will be built by games companies, using games technologies.”
The firm highlights the transformation that video games have gone through in the last ten years, turning into social networks:
“Over the past decade, games have undergone a radical transformation, from simply being packaged entertainment to becoming online services that more closely resemble social networks and scale like consumer technology companies.web
Furthermore, games are also driving innovation across the entire consumer ecosystem, pioneering best-in-class mechanisms for user engagement, retention, and monetization, such as microtransactions, battle passes, and Web 3.0 tokens.”
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