Razer, a gaming technology company, has announced the launch of an investment fund aimed at supporting the growth of blockchain-based games and developers. The new fund will enable Razer to utilize Web3 technology and expand its support for the emerging blockchain gaming industry.
The fund, dubbed zVentures Web3 Incubator (ZW3I), will identify and invest in Web3 gaming initiatives in their earliest development stages. Using its expertise and network, it will concentrate on augmenting the gaming experience by creating enjoyable games with a solid roadmap supported by a seasoned team.
Razer’s director of blockchain, Lawrence Lin, stated in a press release that zW3I will not only be able to support emerging initiatives but will also pave the way for widespread adoption in the gaming industry.
Lin emphasized the crucial role of the gaming experience in the success of any game launch and expressed his confidence that the integration of blockchain technologies and support from companies with strong gaming expertise will bring about a revolutionary transformation of this experience.
ZW3I-funded companies will have access to Razer’s marketing and partnership resources and those of zVentures’ Web3 partners, such as Animoca Brands, Griffin Gaming Partners, Amazon Web Services, and others.
Large quantities of capital continue to be invested in Web3 gaming despite the ongoing slowdown in the crypto market. In May of 2022, a16z, a cryptocurrency investment firm, disclosed its plans to invest $600 million into the rapidly growing blockchain-based gaming sector. Bitkraft, a gaming-focused venture capital firm, raised over $220 million for a “token fund” to continue investing in Web3 gaming last week.