TLDR:
- Andreessen Horowitz is investing $30 million in gaming startups through its a16z Speedrun program.
- The firm is looking to support startups at the intersection of Tech x Games in the rapidly growing web3 gaming sector.
In a recent announcement, Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) revealed that it is allocating $30 million in funding for gaming startups through its a16z Speedrun program. The funding will be distributed at a rate of $750,000 per startup, with the application deadline set for May 19. Selected startups will participate in a 12-week accelerator program that offers exposure to investors and mentors within the gaming industry.
The Speedrun program, now in its third iteration, aims to support early-stage startups operating at the intersection of technology and gaming. Andrew Chen, a general partner at a16z Games, shared the news on social media platform X, highlighting the firm’s commitment to driving innovation in the web3 gaming space.
Web3 gaming has seen significant growth in 2024, attracting substantial venture capital investment. In 2023 alone, blockchain gaming-related funding rounds reached $1.7 billion, with a notable portion flowing into development projects on platforms like Immutable. Other recent funding announcements in the web3 gaming sector include a $100 million gaming fund launched by King River Capital, Immutable, and Polygon Labs, as well as a $14 million seed funding round for web3 gaming platform Elixir Games.
With the influx of funding into the web3 gaming sector, Andreessen Horowitz’s decision to allocate $30 million to support gaming startups through its Speedrun program signals a strong commitment to driving innovation and growth in the industry.
