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Konvoy raises $150M for blockchain-based gaming

Konvoy raises $150M for blockchain-based gaming

A venture capital company called Konvoy Ventures wants to put at least $30 million into different games that use cryptocurrency and the blockchain.

The American company said it was starting Konvoy Fund III, which would invest $150 million in a variety of platforms and technologies in the global gaming market. Bloomberg says that up to 30 percent of the money, or $45 million, would be put into cryptocurrency and blockchain games.

Konvoy is familiar with both cryptocurrency and games that use the blockchain. The company has backed a wide range of gaming companies and projects, such as Sky Mavis, which made Axie Infinity, Ready Player Me, which is an avatar platform for the Metaverse, and open-world NFT game Genopets.

So far, the company’s first two funds have invested in 35 businesses in North America, Europe, the Middle East, Africa, and South-East Asia.

Over the past year, there has been a rise in interest in games that use blockchain technology. Play-to-earn games and games with non-fungible tokens (NFTs) have become major areas of focus in the sector. There has also been no shortage of money. Konvoy’s newest fund comes after Animoca Brands, Samsung Next, and WeMade put $32 million into Planetarium Labs.

DappRadar has reported that people are still interested in GameFi projects. For example, A16z and Dapper Labs have said they will invest $1.3 billion in GameFi and Metaverse projects and technology.

About Tiffany Ellis

She is a smiley curious writer from the USA. She loves Cryptocurrencies, Arts an also NFTs.

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