Blockchain’s venture firms have lead a new investment fund dedicated to Web 3 gaming potentially opening the door to a highly profitable industry that sees cryptocurrency and blockchain integrating with the traditional gaming sector.
Solana Ventures, Lightspeed Venture Partners and FTX announced the launch of a $100 million GameFi ecosystem fund. The funds will be used to invest in gaming studios, technology companies and other projects.
Lightspeed has already invested over $300 million into late-stage gaming and cryptocurrency companies, including Epic Games, Wintermute, FTX and Offchain Labs.Blockchain technology and cryptocurrency are increasingly merging with the gaming landscape, creating new user experiences and forms of monetization.
GameFi is also gaining traction as a concept within the so-called “metaverse,” which describes a futuristic version of the internet comprised of virtual reality, social media and business.
