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New $100 Million Gaming Fund Launched
Australian venture capital firm King River Capital, blockchain gaming firm Immutable, and Polygon Labs have joined forces to introduce a groundbreaking $100 million gaming fund. The fund, named the “Inevitable Games Fund,” stands out as an ecosystem-agnostic initiative that aims to pinpoint lucrative opportunities for investors.
Partnership Details
King River Capital will spearhead the investment process, with support from the two specialist firms offering essential sourcing and web3 gaming expertise.
Growth in Gaming Revenue
Recent data from Messari reveals a promising outlook for the gaming industry, with Immutable and Polygon Labs projected to dominate the market, capturing a combined 70% share of total blockchain gaming development. The industry experienced significant growth in the past year, with blockchain gaming-related rounds reaching $1.7 billion in 2023, a substantial portion of which has been directed towards the 270 blockchain games in development on Immutable.
According to Zeb Rice, co-founder and managing partner at King River Capital, the gaming sector surpasses global revenues from movies, streaming TV, and the music industry combined. Rice emphasizes the potential for a major technological shift in the industry, akin to the evolution of mobile gaming over the past decade.
The Fund offers investors a unique opportunity to access top web3 gaming projects worldwide and capitalize on the anticipated shift of hundreds of billions of dollars towards this disruptive technology.
Future of Gaming Revenue
Projections indicate a steady rise in global gaming revenue, expected to climb from $227 billion in 2023 to $312 billion by 2027, as outlined in a report by PwC. Key drivers of this growth include decentralization benefits, ownership features, and play-and-earn models that incentivize players financially to engage and progress in games.
Investment Opportunities
The Inevitable Games Fund is open for investment by professional and sophisticated investors and has already backed seven early-stage projects, including Pixelmon, Metalcore, Guild of Guardians, and My Pet Hooligan.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
