Framework Ventures allocates half of $400M fund to Web3 gaming

Framework Ventures allocates half of $400M fund to Web3 gaming

CryptoVenture firm that is primarily focused on venture capital Framework VenturesNew funding of $400 million has been raised toInvest in early stage companies across the globe Web3Blockchain gamingIndustries that are decentralized finance-oriented (DeFi). 

The completed raise will go towards “FVIII,” an oversubscribed fundThe company was valued at $400 million Tuesday. Approximately$200 million ofThe total will be divided toBlockchain is a new technology gaming industry.

TheVenture firm that was first exposed toDeFi now manages assets in excess of $1.4 billion. Framework VenturesAn early investor in projects such Chainlink, AaveAnd The Graph.

Like DeFi in 2020, gamingAnd Web3They have been identified as the next major growth opportunity for the blockchain industry. Axie Infinity — a popular play-toA game where you collect digital pet avatars to earn money called Axies —has provided a solid use case for this emerging paradigm. According toBlockchain analytics platform NansenThere are currently 2.8million unique addresses with 11.1million addresses Axies.

As Cointelegraph reported, Web3It is also encouraging continued growth ofcreators have the ability to create a nonfungible token market toIn virtual ecosystems, create NFTs that have actual use cases.

Related: AnWomen are invited to an open invitation toJoin the Web3Bewegung

VentureSmart money investors and funds have been interested in this. toBack Web3 development companies. On Tuesday, CointelegraphKuCoin ecosystem firms had launched a $100 Million fund Web3 developer fundNFT projects are our main focus. SeparatelyCoinDCX, a crypto exchange, has raised $135 Million toSupport India-based Web3 projects.

BeyondThe blockchain industry, it’s believed that play-toThe future could be affected by the -earn Model of gaming. MyspaceCo-founder and former CEO Chris DeWolfe told CointelgraphThe business model of play-to-earn allows players to have more control over their in-game experience.