{"id":362899,"date":"2021-11-05T16:00:00","date_gmt":"2021-11-05T13:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/solana-ventures-lightspeed-venture-partners-and-ftx-launch-100m-gaming-fund\/"},"modified":"2021-11-05T16:00:00","modified_gmt":"2021-11-05T13:00:00","slug":"solana-ventures-lightspeed-venture-partners-and-ftx-launch-100m-gaming-fund","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/solana-ventures-lightspeed-venture-partners-and-ftx-launch-100m-gaming-fund\/","title":{"rendered":"# Solana Ventures, Lightspeed Venture Partners and FTX launch $100M gaming fund"},"content":{"rendered":"

“# Solana Ventures, Lightspeed Venture Partners and FTX launch $100M gaming fund <\/strong>”
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Some of blockchain\u2019s biggest venture firms have spearheaded a new investment fund dedicated to Web 3 gaming, also known as Game<\/a>Fi, potentially opening the door to a highly lucrative industry that sees cryptocurrency and blockchain merging with the traditional gaming sector.\u00a0<\/p>\n

On Friday, Solana Ventures, Lightspeed Venture Partners and derivatives exchange FTX announced the launch of a $100 million GameFi ecosystem fund. The funds will be used to invest in gaming studios, technology<\/a> companies and other projects \u201cat the intersection of blockchain and gaming,\u201d the companies said. <\/p>\n

Lightspeed Venture Partners executive Amy Wu described gaming as a massive opportunity to \u201cbring the next billion users to Web 3,\u201d a broad concept that refers to a more decentralized internet. Lightspeed has already invested over $300 million into late-stage gaming and cryptocurrency companies, including Epic Games, Wintermute, FTX and Offchain Labs. <\/p>\n

Although estimates vary, the global gaming market is said to generate well over $100 billion in annual revenue \u2014 a figure that is expected to cross $200 billion in the next two years, according<\/a> to gaming data provider Newzoo. <\/p>\n

Blockchain technology and cryptocurrency are increasingly merging with the gaming landscape, creating new user experiences and forms of monetization. This intersection has given rise to GameFi, a broad term that describes the financialization of gaming through DeFi and nonfungible tokens.<\/p>\n

Related: <\/em><\/strong>Former Activision, Disney and Lucas Films devs reveal NFT-powered video game<\/em><\/strong><\/p>\n

GameFi is also gaining traction as a concept within the so-called \u201cmetaverse,\u201d which describes a futuristic version of the internet comprised of virtual reality, social media<\/a> and business. Multiple investment funds have allocated capital to this emerging vertical, including Sanctor Capital, which recently raised $20 million, and Huobi Group, which launched a $10 million fund. <\/p>\n

When asked about the long-term value proposition of the metaverse concept, Amy Wu told Cointelegraph that “the metaverse is a potential digital world where people build identity, reputation, make friends, play, and transact in.” She further explained:<\/p>\n

“If it becomes even a fraction as meaningful as our offline lives, it\u2019s incredibly valuable. Hence why Web 2 companies like Meta and native Web 3companies alike are trying to build this. People spend hours a day in games like Fornite and Roblox, so I believe the metaverse will be born out of a social game.”<\/p><\/blockquote>\n