Andreessen Horowitz Launches a $600M USD Metaverse Gaming Fund
Key investment themes will include Game Studios, Consumer Services, and Infrastructure.
On Wednesday, May 18, Andreessen Horowitz (a16z) announced the launch of its new fund “GAMES FUND ONE,” consisting of $600 million USD that it says will be used to build the future of gaming in the Metaverse space.
Yeah, we made a hype video. pic.twitter.com/CBrG3WIzBK
— a16z (@a16z) May 18, 2022
The fund was created with the belief that metaverse gaming will become massively adopted in a social, play, and work environment over the next one hundred years. In the announcement a16z points to the fact that gaming in the last decade has evolved from entertainment to becoming more like online social networks — pointing to leading brands like Fortnite, League of Legends, and Minecraft.
Currently, the traditional gaming industry is valued at approximately $336 billion USD, which a16z believes will be dwarfed in comparison by the potential growth of metaverse gaming.
The fund aims to invest in gaming studios that will continually update online services for its players and provide opportunities for user-generated content, with social network fundamentals at the core. Also of interest is “Games x Consumer,” which includes the development of social apps like Twitch, Discord, and more that would aim to further build community.
This move by a16z comes at a time when the development of play-to-earn and metaverse gaming is at an all-time high. Some of the leaders of these spaces are included in the GAMES FUND ONE, like Dapper Labs, Roblox, RTFKT, Riot Games, Blizzard, Twitch, and more.
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