Some of the Blockchain World's Largest Ventures, have led a new investment fund dedicated to Web 3 games (also known as GameFi), opening the door to an industry that generates huge returns. , through the amalgamation of blockchain and cryptocurrency along with the traditional gaming sector.
On Friday, Solana Ventures, Lightspeed and derivatives exchange FTX announced the launch of a $100 million GameFi ecosystem fund. These funds will be used to invest in game studios, technology companies and other projects focusing on the intersection of blockchain and games.
Amy Wu (CEO of Lightspeed Venture Partners), described the game as an opportunity to bring billions of new users to Web 3, a broad concept that refers to a more decentralized internet. Lightspeed has invested over $300 million in crypto and game companies, including Epic Games, Wintermute, FTX, and Offchain Labs.
According to game data provider Newzoo, although estimates vary, the global gaming market is expected to generate more than $100 billion in annual revenue and is expected to surpass $200 billion in the next two years. next year.
Blockchain technology and cryptocurrencies are increasingly integrating with the gaming platform, creating new user experiences and monetization. This crossover gave rise to GameFi, a broad term describing game finance through DeFi and NFTs.
GameFi is also attracting attention when it can be combined with Metaverse, a concept that describes a future version of the Internet that includes virtual reality, social networking and business. Many investment funds have allocated capital to this emerging trend, such as Sanctor Capital which raised $20 million and Huobi Group also launched a $10 million fund.
When asked about Metaverse's long-term value proposition, Amy Wu said that Metaverse is a potential digital world where people build identities, reputations, make friends, play, and transact. She added that:
Even if the Metaverse becomes as meaningful as our real-life lives, it is immensely valuable. So this is why Web 2 companies like Meta and native Web 3companies are all trying to build this.