Solana, FTX, Lightspeed Ventures To Launch $100M Web3 Gaming Fund

More paths open up for Web3 gaming as a $100 million investment fund is launched by the large blockchain venture firms Solana Ventures, Lightspeed Venture Partners, and FTX. A lot of enthusiasm surrounds the future of the GameFi industry as it grows exponentially. The fund aims to invest in “the intersection of blockchain and gaming”: technology companies, gaming studios that incorporate the Solana blockchain. Gaming could be a great gateway for Web3 to bring in “next billion users”, said one of the partners. The CEO of FTX Sam Bankman-Fried said in Tweeter that this partnership might build “the biggest growth area in the sector: web3 + gaming + NFTs.” Related Reading | FTX CEO Sam Bankman-Fried Reveals Reason Behind Billions Of Dollars Tether Purchase Recently, Lightspeed and FTX announced their first investment for the gaming studio Faraway by leading a $21 million Series A funding round alongside other important partners such as a16z, Pantera Capital, and Sequoia Capital. Faraway will now integrate Solana blockchain into “Mini Royale”, the studio’s top game. Faraway CEO Alex Paley commented on their goals for the project: Blockchain technology will unlock the potential for truly player-driven, open economies and will usher in the next wave of gaming and virtual worlds, (…) Our goal for both current and future games is to create extremely fun and social games with open economies, giving players true ownership over their...