A16z recently announced a new gaming fund of $600 million as part of its $7.2 billion raise. The $7.2 billion will be used for various venture strategies. Games and apps have been allocated $1.2 million and $1 billion respectively.
Right now is an important time for the gaming industry. Just over the past year, there has been almost 20000 layoffs. At the same time, the revenue per user is on a consistent rise according to a Statista report.
Earlier A16z raised already $600 million in May 22. The new fund brings the total gaming investment to $1.2 billion. That’s a huge amount, and it can help push Web3 games to the next level.
This is the best time for gaming startups
The co-founder of A16z games, Jonathan Lai, shared the news on his Twitter and mentioned that there has not been a better time to build gaming startups. That is because the market has better tech and tools to build games. On top of that, the number of platforms and players has also gone up.
He further mentioned, “There are more players and platforms than ever before — more tools and tech to help build games than ever before — more funding for game startups than ever before.”
What will a16z use this fund for?
Jon Lai added that that the firm will use this fund to invest in studios building new types of games and infrastructure powering next gen developers. He also announced that their speedrun accelerator is now accepting applications.
