Konvoy Ventures launches new fund for GameFi, $150 million for cryptocurrencies and blockchain-based games.
Venture capital company Konvoy Ventures announces the opening of a new $150 million fund. Some of these funds will be invested directly in games based on cryptocurrencies and blockchain, the famous pay-to-earn system that has been growing in popularity for several months.
Konvoy Ventures launches new fund for GameFi
Konvoy Ventures is ready to pay out at least $30 million to support the most promising games and gaming projects based on cryptocurrency and blockchain. That is what the Konvoy Fund III is dedicated to, a $150 million capital that the company will invest in various platforms and technologies in the video game industry. Up to 30%, or $45 million, of this fund will go towards crypto and blockchain gaming, according to Bloomberg.
$150 million for games based on cryptocurrencies and blockchain
If the Konvoy name sounds familiar to you, it’s because the company is already a major player in the cryptocurrency and blockchain-based gaming industry. The company has already funded a number of successful companies and projects such as Sky Mavis, the creator of Axie Infinity, the metaverse avatar platform Ready Player Me, and the open-world NFT game Genopets. In total, Konvoy has invested in 35 companies to date through its first two funds around the world.
In recent months, interest in games based on the blockchain has grown steadily, with the concepts of “play to earn” and “involving NFT” leading the way. Logically, funding followed. The latest Konvoy fund was launched after Animoca Brands, Samsung Next and WeMade invested $32 million in Planetarium Labs. GameFi as a whole should explode in the coming months. Giants like A16z and Dapper Labs have pledged to invest at least $1.3 billion in this nascent industry.