Framework Ventures Launches $400M Fund for Blockchain GamesKiana Griffin
Cryptocurrency-focused venture capital firm Framework Ventures said Tuesday it has raised $400 million for a new fund. The Framework said in a statement that half of the new capital, about $200 million, will go to the “growing blockchain gaming sector.”
This particular focus on gaming builds on the momentum seen in industry deals in recent months. The blockchain gaming sector — the intersection of decentralized technology and peer-to-peer interaction — experienced a boom in November 2021 and attracted significant investment, including $725 million raised by Forte, and $150 million raised by Mythical Games.
Framework’s portfolio includes Aave (AAVE) and Chainlink (LINK), and its gaming-focused investments include Illuvium (ILV), a studio that raised $5 million last year.
“I believe the next phase of the blockchain industry will be all about acquiring new users, and we believe gaming is by far the biggest opportunity at the top of the funnel,” said co-founder Michael Anderson. As the economic models of playing for money are combined with AAA games that are really fun to play, we expect explosive growth in this sector.”
As noted in a report by The Block Research last fall, blockchain games are increasingly being considered in parallel with the virtual world experience. Therefore, in venture circles, efforts to finance projects focused on the so-called metaverse have intensified.