Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Editor's Pick

Andreessen Horowitz (a16z) Allocates $30M Funding for Gaming Startups

Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) founded by Marc Andreessen and Ben Horowitz is investing $30 million in gaming startups in the next 45 days.

Andrew Chen is a general partner for a16z Games took to the social media platform X to share the funding announcement. Chen said the firm will invest the $30 million through its a16z Speedrun program and $750 will be allocated per startup. The deadline for applying for the funding is May 19 with those shortlisted will be notified at the end of July.  

Gaming startups selected to join the Speedrun program will work closely with a16z and be exposed to investors and mentors, said Chen.

This is the third Speedrun program launched by a16z Games — described as an early-stage accelerator for startups at the intersection of Tech x Games.

BIG NEWS:
i’m investing $30M in the next 45 days via the a16z SPEEDRUN program

Yes, $750k per startup that joins the SPEEDRUN program plus obv it’ll be a great way to work together on something. So come work with me at a16z’s SPEEDRUN program — we’ll invest, work with you,…

— andrew chen (@andrewchen) April 1, 2024

According to the venture capita firm the 12-week program is “highly selective” with only 1% of applicants being accepted in its last cohort. The firm said 80% of start ups from the program’s first cohort secured funding from investors following demo.

Web3 Gaming is Growing


In 2024, web3 gaming is growing rapidly with the space attracting more VC investment. In 2023, it is estimated that the blockchain gaming related rounds reached $1.7 billion which is a significant part of that has flowed to the 270 blockchain games in development on Immutable.

Recently King River Capital, blockchain gaming firm Immutable and Polygon Labs announced they had teamed up to launch a $100 million gaming fund.

Last week, Web3 gaming platform Elixir Games raised $14 million in a seed funding round from Square Enix, the Solana Foundation and Shima Capital, and others. The funding will be used by Elixir Games to launch its native token “$ELIX” and its “Launchpad & Incubation Program” which go live later this year.

Web3 gaming firm Illuvium announced it had raised $12 million in a series A funding round with contributions from investors such as Australian venture capital firm King River Capital, Arrington Capital and Animoca Ventures.

The post Andreessen Horowitz (a16z) Allocates $30M Funding for Gaming Startups appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Oracleofomahasays.com