Bahamas-registered cryptocurrency exchange FTX and US-headquartered public blockchain platform developer Solana’s corporate venturing unit, Solana Ventures, have launched a $100m gaming fund with venture capital firm Lightspeed Venture Partners.
The vehicle will be focused on Web 3.0 gaming investments which will be underpinned by blockchain technology. Areas of interest include gaming studios and blockchain technology developers.
The fund is intended to capitalise on the growing demand for gaming products that can be monetised – a space broadly known as GameFi – which is accelerating as blockchain technology and cryptocurrency continue to make inroads into the gaming ecosystem.
The fund will initially make investments into the Solana ecosystem, and FTX and Lightspeed Venture Partners recently co-led a $21m series A round for blockchain game developer Faraway that also featured Solana, which has confirmed the deal is linked to the newly formed partnership.
