• Play Ventures establishes a blockchain gaming fund with a commitment of $75 million

  • Play Ventures, a gaming venture capital firm, has launched a new fund called Play Future Fund to invest in blockchain gaming.

    The new fund, which has received $75 million in commitments, will invest in projects that combine gaming with blockchain technology — potentially even the much-discussed metaverse.

    “Web3 and play-to-earn will fundamentally alter how games are designed, played, and experienced.” “Open public blockchains provide a blank canvas for innovators not seen since the internet’s inception,” the firm said in a statement.

    Play Ventures, based in Singapore, focuses on early-stage investments in gaming companies. It was founded in 2018 and has typically invested in startups that are not part of the blockchain ecosystem.

    The new fund will be managed by Kenrick Drijkoningen, general partner at Play Ventures. Since 2012, he has been investing in gaming companies and previously ran Lunex Ventures, a blockchain and cryptocurrency fund.

    The blockchain gaming fund has already made investments in a number of companies, including the NFT borrowing and lending protocol ReNFT and GuildFi, a decentralized organization that provides access to play-to-earn games such as Axie Infinity.

    The new fund commitments bring Play Ventures’ assets under management to $300 million.

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