One of Silicon Valley's most renowned investors wants to accelerate in video games.
Andreessen Horowitz, aka a16z, has announced the creation of Games Fund One, a $600 million fund that has received support from several business leaders in the industry.
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"We believe that video games will be one of the most powerful industries for decades to come
," said Andrew Chen, one of the fund's directors.
“In a decade, this industry has already experienced a radical transformation.
Online games like
Fortnite
,
League of Legends
or
Minecraft
have become loyal user communities that generate billions of dollars in annual revenue.
Games are also pioneers in innovations to strengthen consumer engagement, retention and monetization
,” a16z continued in a statement.
Above all,
“we believe that the future metaverse will be built by video game companies, with their technologies”
, indicates the fund to the VenturesBeat site…
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