Play Ventures today announced its new fund for blockchain gaming investments: The Play Future Fund. The fund has already made three commitments and focused on what web3 and games have in common.
The fund is now operational with an investment of $75 million. According to its website, the fund is targeting blockchain-based games: “We believe trust in the Metaverse depends on blockchains. Be it payments, assets, identity, or human coordination, the companies we invest in will have crypto-native solutions.”
Henric Suuronen, the co-founder of Play Ventures, gave the following words in his 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.”
The Play Future Fund has so far invested in Community Gaming, a tournament organization platform using blockchain and NFT rewards; ReNFT, the NFT lending and leasing protocol; and GuildFi, a DAO focused on Play-to-Earn games and guild management.
The fund is led by Kenrick Drijkoningen, as well as Anton Backman, director of Play Ventures, and analyst Vincent Lim. It is also known to 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 raised $135 million earlier this year as part of a second fund to invest in gaming startups. The company has invested in dozens of game companies since 2018.