TLDR:
- Andreessen Horowitz (a16z) has launched a $30 million investment initiative for tech-centric gaming startups focused on AI, VR/AR, and Web3 technologies.
- The initiative will be distributed through the SPEEDRUN accelerator program, offering $750,000 to each selected startup along with a 12-week course featuring access to capital, mentors, and a community of founders.
Venture capital giant Andreessen Horowitz (a16z) has announced a $30 million investment initiative aimed at propelling tech-centric gaming startups into the future. The focus is on cutting-edge technologies like AI, VR/AR, and Web3 in the gaming sector. The investment will be distributed through the SPEEDRUN accelerator program, providing each selected startup with $750,000 and a 12-week course including access to capital, mentors, and a community of founders. The program has seen success, with 80% of startups from the first cohort securing additional funding post-Demo Day.
The program, led by Andrew Chen, a general partner at a16z, is targeting the convergence of technology and gaming, encompassing a broad spectrum of technologies like AI/infrastructure, 3D tools, VR/AR, Web3 games, and gamified consumer applications. Startups interested in joining have until May 19th to apply, with the program running from July 29th to October 20th, 2024, in Los Angeles. The accelerator has already seen success with Web3 gaming startups like Matchday and Promodium, utilizing NFTs.
With the Web3 gaming market projected to grow from $154 billion to $614 billion by 2030, a16z’s strategic investments are poised to play a pivotal role in shaping the future of the gaming industry. The firm’s strong belief in the sector’s growth potential through innovative technology applications is evident in their investments in notable companies like Roblox, Sandbox, Sky Mavis, Mythical Games, and others.
