VC Roundup: The rise of blockchain gaming, DAO management and asset tokenization
Bitcoin (BTC) and the broader cryptocurrency market have provided very little comfort in recent weeks, as macroeconomic headwinds and the implosion of the Terra ecosystem continue to reverberate. But, if we look beyond the immediate price action, we observe an industry that continues to grow and evolve, as well as attract sizable capital investments from major funders. The latest edition of venture capital (VC) Roundup highlights the continued growth of Web3 gaming, metaverse applications and even decentralized finance (DeFi) protocols.
Related: Crypto Biz: Smart Money is betting big on Web3, layer 2, May 19-25
Blockchain video game developer Irreverent Labs has raised $40 million from venture capital firm Andreessen Horowitz (a16z) to further the development of its immersive play-to-earn game Mecha Fight Club. Andreessen’s general partner Arianna Simpson described the “outlandish” premise of the game in a blog post: “Robotic roosters and hens battle it out in a hilarious combat sport that is part MMA, part Tamagotchi, part Gundam Wing, part Mortal Kombat, with a twist of humor from Family Guy, Monty Python and South Park.”
Announcing our fourth crypto fund, totaling $4.5B, to invest in promising web3 startups at every stage. This brings our total crypto/web3 funds raised to over $7.6B.General Partner @cdixon shares more on https://t.co/xIezLlyDiC. https://t.co/Xc696Fu8UT
Coding Bootcamp company Lighthouse Labs recently closed a $7 million seed round to further develop its so-called “open metaverse navigation engine.” The funding round had participation from some of blockchain’s biggest VCs and investors including Accel, BlockTower and Animoca Brands. Lighthouse Labs is developing a platform that allows users to search for
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