Solana Ventures, Lightspeed Venture Partners and FTX Launch $100M Gaming Fund

　　The convergence between blockchain innovation, cryptocurrency and gaming is making another reality for gamers.

　　A portion of blockchain's greatest endeavor firms have led another investment fund devoted to Web 3 gaming, otherwise called GameFi, possibly making the way for a profoundly worthwhile industry that sees cryptocurrency and blockchain converging with the conventional gaming area.

　　On Friday, Solana Ventures, Lightspeed Venture Partners and subsidiaries trade FTX declared the dispatch of a $100 million GameFi biological system fund. The funds will be utilized to put resources into gaming studios, innovation organizations and different ventures “at the crossing point of blockchain and gaming,” the organizations said.

　　Lightspeed Venture Partners chief Amy Wu portrayed gaming as a gigantic chance to “carry the following billion clients to Web 3,” an expansive idea that alludes to a more decentralized web. Lightspeed has as of now put more than $300 million into late-stage gaming and cryptocurrency organizations, including Epic Games, Wintermute, FTX and Offchain Labs.

　　Despite the fact that evaluations shift, the worldwide gaming market is said to produce above and beyond $100 billion in yearly income — a figure that is relied upon to cross $200 billion in the following two years, as per gaming information supplier Newzoo.

　　Blockchain innovation and cryptocurrency are progressively converging with the gaming scene, making new client encounters and types of adaptation. This crossing point has led to GameFi, an expansive term that portrays the financialization of gaming through DeFi and nonfungible tokens.

　　GameFi is likewise acquiring footing as an idea inside the alleged “metaverse,” which depicts a modern adaptation of the web involved augmented experience, web-based media and business. Numerous investment funds have distributed cash-flow to this arising vertical, including Sanctor Capital, which as of late raised $20 million, and Huobi Group, which dispatched a $10 million fund.

　　When gotten some information about the drawn out incentive of the metaverse idea, Amy Wu let Cointelegraph know that “the metaverse is a possible computerized world where individuals construct character, notoriety, make companions, play, and execute in.” She further clarified:

　　“If it becomes even a fraction as meaningful as our offline lives, its 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.”

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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