Framework Ventures, a crypto-focused venture capital company, announced the raising of $400 million for a new fund on Tuesday.
Framework said in a statement that half of the new capital, or $200 million, will be invested in the “burgeoning blockchain gaming market.”
This special focus on gaming builds on the momentum seen in previous months in the sector. In November, major investments in the gaming space (the nexus of decentralised technology and peer-to-peer involvement) included $725 million raised by Forte and $150 million raised by Mythical Games, among others.
Framework’s investments include Aave and Chainlink, as well as Illuvium, a play-to-earn studio that raised $5 million last year.
“I believe the next stage of the blockchain business will be totally about onboarding new users, and we believe gaming has by far the largest top-of-funnel potential,” co-founder Michael Anderson said. “We anticipate an explosion of growth for this industry when the economics of play to earn models merge with triple-A games that are truly entertaining to play.”
According to a survey, the use of blockchain gaming is increasingly being seen in combination with virtual world experiences. Efforts by venture capitalists to support projects that focus on the so-called “metaverse” have also risen.
