Play Ventures revealed today its new fund for blockchain gaming investments: The Play Future Fund. The Fund has made three commitments already, and is focused on the intersection of web3 and gaming.
The Fund is now fully subscribed with $75 million in investments. According to its website, the Fund is aimed at blockchain-based gaming: “We believe the future of Metaverse trust lives on blockchains. Whether it’s payments, assets, identity or human coordination the companies we invest in will have crypto native solutions.”
Play Ventures’ founding partner Henric Suuronen said in a statement. “Gaming companies are looking to push into web3 while crypto native companies are trying to enter the US$180 Billion gaming industry. The Play Future Fund marries these two very distinct universes to bring entirely new experiences to gamers around the world.”
So far, Play Future Fund has invested in Community Gaming, a tournament-organization platform that uses blockchain and NFT prizes; ReNFT, an NFT lending and renting protocol; and GuildFi, a DAO focused on Play-and-Earn games and guild management.
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The Fund is led by partner Kenrick Drijkoningen, as well as Anton Backman, principal at Play Ventures, and analyst Vincent Lim. It’ll also be supported by the rest of the Play Venture team. Drijkoningen said in a statement: “We’re witnessing the complete re-architecture of societal trust systems. This will impact all major industries but gaming will be leading the adoption charge. A huge global digitally native player base will embrace the opportunity to live, learn, play and earn online.”
Play Ventures earlier this year raised $135 million as part of a second fund to invest in game startups. The company has invested in dozens of game companies since 2018.
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