“High-performance blockchains like Solana are now capable of delivering the kind of Web 2 experiences gamers expect while providing the advantages of decentralized Web 3 systems. “Gaming has a massive opportunity to bring the next billion users to Web 3,” Amy Wu, partner at Lightspeed, said in a press release. While part of the investment will target the development of new titles, it will also be used to integrate Solana’s blockchain into existing games, creating in-game economies centered around NFTs and Solana wallet payments. The investment will focus on gaming studios, technology and projects that focus on the overlap between blockchains and gaming. Read more: FTX, Lightspeed Lead $21M Funding Round in Gaming Studio Faraway FTX, Lightspeed Venture Partners and Solana Ventures have joined forces to create a 100 million Web3 gaming investment initiative, the companies said on Friday. 100M USD Similar verticals: Software Services, Marketplace, Financial Services, Blockchain, Transportation, Ecommerce, Automotive, Mobile, AI (big data), Competitive Intelligence. Web 3 gaming has skyrocketed in popularity with play-to-earn titles such as Axie Infinity and metaverse games like Decentraland and Sandbox. Lightspeed Venture Partners is an American venture capital firm focusing on early stage investments in the enterprise technology and consumer space. Lightspeed said it’s already invested $300 million in “early stage gaming and crypto companies” that include Epic Games, 1047 Games, Tripledot Studios, Offchain Labs, Alchemy and Wintermute. The initiative has already resulted in its first investment with FTX and Lightspeed leading a $21 million funding round for gaming studio Faraway.
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