The investment fund Framework Ventures, which specialises in financing blockchain projects, has announced the creation of a new $400m fund under the name “FVIII”. Half will be used to invest in Web 3.0 and decentralised finance (DeFi), and the other half for blockchain gaming, a “thriving sector” according to the company.
Framework invests $200 million in blockchain gaming
Framework Ventures, an investment fund specialising in the blockchain ecosystem, said it has raised $400 million to build its new fund called “FVIII”.
The capital will be used to invest in a variety of startups and early stage projects in blockchain gaming, Web 3.0 and decentralised finance (DeFi). This is the third round of funding for Framework Ventures, which now gives the company a portfolio of $1.4 billion.
Of the $400 million, half will be invested in blockchain gaming, a “thriving space” according to Framework Ventures, as evidenced by the $725 million raised by the Forte platform last November or the FTX Gaming arm initiated by FTX.US in February.
According to the investment fund’s team, we are currently at a pivotal point in the history of blockchain, and it’s now that things are set for the future:
The belief behind FVIII is that we are at the precipice of hypergrowth in consumer blockchain applications. We are deeply convinced that the products developed today are the ones that will open the floodgates to billions of new users over the next decade and become the next industry leaders. It has taken nearly 10 years of technology maturation, iteration and failure to get blockchains ready for this moment […]. “
Michael Anderson, the co-founder of Framework Ventures, also said that the company’s motto was “go where the entrepreneurs go,” and that currently they were mostly looking at the blockchain gaming ecosystem.
The meeting of the blockchain and gaming
Created in 2019, Framework Ventures initially focused on decentralised finance, which was the most suitable sector for blockchain at the time, according to Michael Anderson. However, with the advent of new blockchains running on Proof-of-Stake (PoS) consensus and layer-2 solutions for Ethereum (ETH), the game has changed and new opportunities are arising.
For example, he explains, a growing part of the cryptocurrency community has moved into blockchain gaming, and that things were likely to continue in that direction:
“In the next few years, gaming blockchain will be something that burst onto the scene in the same way that DeFi did in 2019 and 2020. […] billions of people will be drawn to access better economic opportunities found in entirely new digital worlds. “
That said, decentralised finance continues to be of interest, and Framework Ventures will invest $200 million in it and in the development of Web 3.0.
