Venture capital company Andreessen Horowitz (a16z) has announced the launch of a $600 million fund focused on “game infrastructure and metaverse technologies.”
The GAMES FUND ON will focus on funding studios, infrastructure startups and a wide range of applications that will revolutionize the gaming industry. The company’s analysts have estimated the current market capacity at $300 billion.
The company has reported that at the moment, Web 3.0 is more of a set of ideologies, but emerging virtual reality technologies for metaverses with P2E models will form the basis of this concept.
The structure will support portfolio companies from creating digital communities to selecting development teams, managing the virtual economy and licensing intellectual property rights.
a16z opened last month a division for research in the field of cryptocurrencies and other technologies related to Web 3.0.
