Representatives of Framework Ventures launched a $400 million fund. They decided to invest in the cryptocurrency sector. The main focus will be on supporting startups developing decentralized finance (DeFi) products, as well as blockchain games.
The company said that the crypto investment firm currently manages assets worth $1.4 billion. From the funds earned earlier, money will be allocated for the third venture fund. The capital will be divided in half for the above two industries.
The organization assured that Web 3.0 games are the industry that has the greatest potential for growth for a wide audience among blockchain projects. This was announced by the co-founder of Framework Michael Anderson. He noted that there are more than 3 billion gamers in the world, and the video game industry has become the dominant form in the media space.
If even a small percentage of the players turn their attention to blockchain startups, it will be a breakthrough and will fundamentally change the demographics of the industry.
Market analysts recalled that Framework Ventures was one of the first funds to back DeFi startups and invest in the Chainlink oracle network, Aave liquidity protocol, The Graph data indexing protocol, and liquidity provider Tokenmak. In addition, not so long ago, representatives of the company invested in the Illuvium game project.
Earlier edition informed that the developers of Illuvium told about how they plan to launch non-fungible tokens (NFTs). They assured that their new product will have a great game concept and dynamics. Gamers from all over the world will be able to participate in battles and earn crypto tokens by collecting “illuvials” to add to their own decks of cards.