Investment capital firm Konvoy Ventures is placed to spend a minimum of $$ 30 million to back various cryptocurrency and blockchain-based games.
The American firm announced the launch of Konvoy Fund III, with $150 million in capital it intends to invest in a number of platforms and technologies within the global gaming sector. Based on Bloomberg, as much as 30% ($45 million) from the fund is going to be allotted towards the crypto and blockchain gaming space.
Konvoy isn’t any stranger to everything about cryptocurrencies and blockchain-based games. The firm boasts a remarkable portfolio of gaming companies and projects so it has funded, including the kind of Axie Infinity creators Sky Mavis, Metaverse avatar platform Ready Player Me and open-world NFT game Genopets.
Related: Animoca, WeMade, Samsung Next back Web3 studio to build up open-source games
The firm has committed to as many as 35 companies up to now through its first couple of funds across The United States, Europe, the center East, Africa and South-East Asia.
Curiosity about blockchain-based games has elevated in the last year, with play-to-earn and NFT-featuring games big points of interest in the market. There’s been an abundance of funding either, with Konvoy’s latest fund carrying out a $32 million investment produced by Animoca Brands, Samsung Next and WeMade into Planetarium Labs.
A current report from DappRadar also outlined ongoing curiosity about GameFi projects. The kind of A16z and Dapper Labs have promised around $1.3B in investments in GameFi and Metaverse projects and technologies.
