Important points:
- Andreessen Horowitz (a16z) launches a $30 million investment initiative targeting tech-centric gaming startups focused on AI, VR/AR, and Web3 technologies.
- The investment will be distributed through the SPEEDRUN accelerator program, providing each selected startup with $750,000 and a 12-week course featuring access to capital, mentors, and a community of founders.
- Despite the highly competitive nature of the SPEEDRUN program, its success is highlighted by the fact that 80% of the startups in the first group secured additional funding after Demo Day, underscoring the significant impact and potential of this initiative. I’m emphasizing it.
Venture capital giant Andreessen Horowitz (a16z) was announced. Investment initiatives worth $30 million It aims to propel technology-centric gaming startups into the future.
This effort focuses on leveraging the potential to: cutting edge technology like AI, VR/AR, Web3 in the gaming field.
Big news:
We will invest $30 million over the next 45 days through the a16z SPEEDRUN program 😎Yes, each startup that participates in the SPEEDRUN program will receive $750,000. Plus, it’s obviously a great way to collaborate on something. So come work with me in his SPEEDRUN program on a16z – we will invest and work with you…
— Andrew Chen (@andrewchen) April 1, 2024
Andrew Chengeneral partner of a16z; a16z game one fundannounced its investment strategy and highlighted its commitment to fostering innovation in the convergence of technology and gaming.
“Our investments are aimed at exciting convergence. Tech x GameCovers a wide range of technologies, including: AI/Infrastructure, 3D tools, VR/AR, Web3 games, gamified consumer applications, etc.” Chen elaborated.
This ambitious investment will be implemented in the future 45 days Through a16z’s early stage accelerator program; speed run.
You can also experience what Demo Day is like with this fun video from SR002: https://t.co/QgaWqIv7LR
— Andrew Chen (@andrewchen) April 1, 2024
Each startup selected to participate in this program will $750,000 Facilitate their growth and development.
The SPEEDRUN program, detailed by Chen in a recent social media post, is more than just a financial investment.it is comprehensive 12 week course We provide participants with access to capital, industry-leading coaches, mentors, and a vibrant community of forward-thinking founders.
Despite promising support, competition for participation in the SPEEDRUN program is fierce; 1% Number of applicants remaining in the final cohort.
went to the end @Speedrun It was a very moving event. There is a lot of innovation happening in gaming technology.
If you’re building something at the intersection of technology and gaming, you should definitely check out this program. https://t.co/zndS0ZVEKv
— Lenny Rachitzky (@lennysan) April 1, 2024
However, Chen highlighted the program’s success, saying: 80% Some of SPEEDRUN’s first group of startups were able to secure additional funding after Demo Day.
Startups looking to join this wave of innovation should: May 19th To run and apply the program, From July 29th to October 20th, 2024in Los Angeles, California.
The accelerator has already seen success with Web3 gaming startups such as: match daysoccer-themed games, and Promodiumutilizes non-fungible tokens (NFT).
By the way, this is going to be great for LA techies!
We plan to host this in or around our Santa Monica office later this year, and plan to take our team to some great Southern California activities during the program.
So are Lakers games, the Hollywood Bowl, the Comedy Store, and more. It’s sure to be exciting https://t.co/4Vkts1gF2c
— Andrew Chen (@andrewchen) April 1, 2024
supervise $600 million gaming fund 1Mr. Chen and Mr. a16z have already established their presence in the gaming industry by investing in notable companies such as: roblox, sandbox, and sky mavis—Developer of popular blockchain games Axie Infinity.
Additionally, a16z has expanded its investment portfolio through its cryptocurrency division to include blockchain-based gaming startups such as: Mythical Games, Yield Guild Games, Azura Games, CCP Games, NOD Games, and voldex.
should follow @Speedrun Stay up to date with the A16Z SPEEDRUN program — investing $750,000 in dozens of companies over the next 45 days — and giving away a Stanley Cup 😎 https://t.co/LPztqqgacR
— Andrew Chen (@andrewchen) April 1, 2024
with Web3 game market is expected to grow rapidly from $154 billion to $614 billion by 2030As reported, Fortune Business Insightsa16z’s strategic investment is set to play a pivotal role in shaping the future landscape of the gaming industry and demonstrates our strong belief in the growth potential of this sector through the application of innovative technology.
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An experienced Web3 and crypto content expert, Flemming Irunugba leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the cryptocurrency community.
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