Venture capital firm Andreessen Horowitz (a16z) has announced the launch of Games Fund One, which will invest $600m into the gaming industry.
The fund has announced that it will support games studios, customer and game experiences and infrastructure, and play a role in the future of work, how people socialise and how they play.
“Over the past decade, games have undergone a radical transformation, from simply being packaged entertainment to becoming online services that more closely resemble social networks and scale-like consumer technology companies”, an a16z statement said.
An extensive list of entrepreneurs and software developers will join a16z in the fund, they include David Baszucki, founder of Roblox, Marc Merrill, co-founder of Riot Games, Jason Citron, founder of Discord, Mike Morhaime, co-founder of Blizzard, Riccardo Zacconi, founder of King, Mark Pincus, founder of Zynga, Kevin Lin, co-founder of Twitch, and Aleks Larsen and Jeffrey Zirlin, co-founders of Sky Mavis.
A16z has noted the popularity of games like Fortnight, League of Legends and Minecraft. “These ‘games-as-a-service’ have become rich, interactive social networks, with players making in-game friendships that are just as meaningful as those made in-person”, the firm said.
In 2021 the gaming industry alone took in over $300bn according to a report by business strategy and research firm Naavik.
Earlier this month, A16z partnered in a $725m Ecosystem Fund with investment firms Coatue, Greenfield One, Liberty City Ventures, Digital Currency Group, and Dapper Ventures joining in supporting game developers building on the Flow blockchain.
If you’re into your gaming, you can explore great crypto gaming websites such as crypto casinos at Bitcasino, 1xBit and FortuneJack.