The Play Future Fund Is Betting $75 Million on Web 3.0 and Gaming

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Dec. 1 2021, Published 12:43 p.m. ET

Early-stage gaming venture capital firm Play Ventures is making a fresh bet on Web 3.0 and gaming. The Play Future Fund already has tens of millions of dollars committed, and it's making metaverse enthusiasts eager for what the future holds.

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Here are the details on the Play Future Fund, including its goal, it's portfolio so far, and what it hopes to achieve in the years to come.

What's the Play Future Fund?

On Nov. 30, Play Ventures announced the launch of the Play Future Fund, complete with $75 million in futuristic investments. The fund aims to propel and capitalize on blockchain-based gaming, which involves the metaverse and its processes for functioning.

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The Play Future Fund said, "We believe the future of metaverse trust lives on blockchains. Whether it’s payments, assets, identity, or human coordination, the companies we invest in will have crypto native solutions."

The Play Future Fund portfolio is already filling up.

The Play Future Fund is currently invested in:

  • Community Gaming: An automated play-to-earn gaming tournaments platform that lets users earn crypto and USD

  • GuildFi: A multifaceted ecosystem of games, communities, and NFT assets that lets users maximize metaverse yields

  • Meta Soccer: The world's first soccer metaverse that lets users manage their own soccer clubs and earn income from playing

  • ReNFT: Lend and rent NFTs

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What names are behind the Play Future Fund?

Henric Suuronen, founding partner of the Pay Ventures firm at large, wrote about the fund, "Gaming companies are looking to push into web3 while crypto native companies are trying to enter the US$180 Billion gaming industry. The Play Future Fund marries these two very distinct universes to bring entirely new experiences to gamers around the world."

Three of the firm's head honchos lead the fund:

  • Kenrick Drijkoningen (partner)

  • Anton Backman (principal)

  • Vincent Lim (analyst)

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What's next for the $75 million fund?

Since 2018, Play Ventures has been making its mark in the gaming investment realm. With the new Play Future Fund, the company is putting those investments on the fast-track.

The fund's creators admit that the metaverse will have a sweeping cross-industry impact, but their focus remains on gaming, where they say people will live, learn, play, and earn online.

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In addition to the Play Future Fund, the firm is also focusing on the Play Ventures Fund II, which raised $135 million earlier this year to invest in startup gaming companies.

Play Ventures has plenty of competition in the VC world, a fact that's propelling the industry forward at a rapid pace. In 2020 alone, 18 video game IPOs took place worth a collective $2.8 billion, which proved that the VC movement can impact industries at large.

As old favorites like Activision Blizzard work through fractures in their leadership and corporate culture, Web 3.0 and blockchain-based gaming companies are ready and eager to take their place. VC firms like Play Ventures (and its Play Future Fund) are prepared to make sure they succeed.

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