This week, Griffin Gaming Partners announced the creation of its second gaming-related venture capital fund, which will focus on investing in seed and growth rounds of firms devoted to developing Blockchain-powered or conventional games. According to media reports, one of the most significant funds dedicated to interactive entertainment investments is the fund, which was claimed to have been oversubscribed and raised $750 million.
According to the firm’s statistics, gaming has become a pervasive source of entertainment, exceeding the combined popularity of movies, music, and literature. As reported, the industry is predicted to rise by 248 percent over the next ten years, according to projections. According to Griffin Gaming Partners, this possibility is what motivates the company to make aggressive investments in the business.
Web3 And Metaverse Growth
While recent data suggests that interest in metaverse and NFTs have dropped, corporations are still placing their bets on the long-term viability of this blockchain-based technology that may be used in the gaming industry. With investments in Alethea AI, a protocol that enables users to design smart NFTs, and Chill Chat, a Solana-based metaverse game platform, the business has already placed money behind these projects.
On the other hand, Griffin Gaming Partners invests in organizations that are not categorized as gaming firms but rather those that operate at the confluence of different technologies and the gaming industry. This is why the corporation has already invested in efforts such as Discord, a messaging startup that is not a game company but is closely related to the gaming industry.