Play Ventures announced The Play Future Fund, its new fund for blockchain gaming investments, which focuses on the intersection of web3 and gaming. The Fund raised $75 million in investments to launch blockchain-based gaming platforms, and has already made three commitments to 1) Community Gaming, a tournament-organization platform that uses blockchain and NFT prizes; 2) ReNFT, an NFT lending and renting protocol; and 3) GuildFi, a DAO focused on Play-and-Earn games and guild management.
“Gaming companies are looking to push into web3 while crypto native companies are trying to enter the $180 Billion gaming industry,” said Henric Suuronen, Founding Partner of Play Ventures. “The Play Future Fund marries these two very distinct universes to bring entirely new experiences to gamers around the world.”
The Fund is led by partner Kenrick Drijkoningen, as well as Anton Backman, principal at Play Ventures, and analyst Vincent Lim. It’ll also be supported by the rest of the Play Venture team.
Earlier this year, Play Ventures raised $135 million as part of a second fund to invest in game startups. The company has invested in dozens of game companies since 2018. “We believe the future of Metaverse trust lives on blockchains,” it says on Play Ventures’ website. “Whether it’s payments, assets, identity or human coordination the companies we invest in will have crypto native solutions.”
(All information was provided by VentureBeat)
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