Solana Ventures, Lightspeed and FTX launch $100M Web 3.0 gaming fund
GameFi will drive the Metaverse in 2022
Why Solana gaming is the best play to make right now
A gigantic $100m GameFi ecosystem fund was announced Friday to help Solana lead the way for crypto and traditional gaming to merge and live in the coming Metaverse.
Solana Ventures, Lightspeed Venture Partners and FTX will use the fund to invest in gaming studios, technology companies and and co-invest in Solana crypto gaming projects, starting with Faraway and Mini Royale: Nations.
Lightspeed exec Amy Wu feels crypto, blockchain and gaming will continue to merge, gaming can “bring the next BILLION users to Web 3”.
Wu believes that if the metaverse becomes “even a fraction as meaningful as our offline lives” it will be insanely valuable, which is why Facebook (Meta) and native Web 3 companies are all getting in on it. She also thinks in this Decrypt interview that Solana’s a no-brainer to build on, as it’s the number 1 network in terms of gaming devs building on blockchain.
GameFi, where games reward players through DeFi and NFT incentives, will be super important in the coming Metaverse, ” a potential digital world where people build identity, reputation, make friends, play, and transact in”. Lightspeed certainly walks the walk as well, already sinking a crazy $300 million into late-stage gaming and crypto firms like Epic Games, FTX and Wintermute.
All this comes as gaming data provider Newzoo predicts that the global gaming market is going to balloon to over $200 billion by 2023!
This $100 million investment is a very bullish indicator that Solana’s leading investors are putting their money where their mouths are, and so should you, if you believe in its ecosystem.
GameFi is going to become a huge part of the metaverse in 2022. Solana is the fastest and cheapest layer-1 chain out there right now, which has led to a 17,000% growth in 2021 so far, with no end in sight, even if Ethereum solves its issues.
Be careful with putting all your eggs in one basket though. $SOL and the entire crypto market have seen ridiculous gains this year, and with retail investors now FOMOing hard, there could be a big retrace as investors take profit and get their taxes in order.