Enterprise capital agency Konvoy Ventures is ready to fork out not less than $30 million to again varied cryptocurrency and blockchain-based video games.
The American agency introduced the launch of Konvoy Fund III, with $150 million in capital that it plans to spend money on quite a lot of platforms and applied sciences within the world gaming sector. In accordance with Bloomberg, as much as 30% ($45 million) of the fund can be allotted to the crypto and blockchain gaming area.
Konvoy is not any stranger to the world of cryptocurrencies and blockchain-based video games. The agency boasts a formidable portfolio of gaming firms and tasks which it has funded, together with the likes of Axie Infinity creators Sky Mavis, Metaverse avatar platform Prepared Participant Me and open-world NFT sport Genopets.
Associated: Animoca, WeMade, Samsung Subsequent again Web3 studio to develop open-source video games
The agency has invested in a complete of 35 firms thus far by its first two funds throughout North America, Europe, the Center East, Africa and South-East Asia.
Curiosity in blockchain-based video games has elevated over the previous 12 months, with play-to-earn and NFT-featuring video games huge focal factors within the business. There was no scarcity of funding both, with Konvoy’s newest fund following a $32 million funding made by Animoca Manufacturers, Samsung Subsequent and WeMade into Planetarium Labs.
A latest report from DappRadar additionally outlined continued curiosity in GameFi tasks. The likes of A16z and Dapper Labs have pledged round $1.3B in investments in GameFi and Metaverse tasks and applied sciences.
