Change venture capital money to Web 3.0, games start amid drought

New Delhi: Venture capital funds (VCs) and large investors are now turning their attention to emerging technologies such as Web3.0 (Blockchain / Crypto / NFTs) and games (Metaverse) as traditional global beginners are squeezing cash flow due to various global macroeconomic conditions. There they see great opportunities.

Etech, Healthtech, e-groceries, online food distribution and home services – realize that the “financial winter” has finally begun after a strong storm of more than two years around pandemics that have allowed online start-ups to grow exponentially around the world. Domain. They decided to put their money elsewhere.

California-based Andreessen Horowitz (A16Z) takes center stage and announces two new funds – $ 4.5 billion to fund crypto, blockchain and Web3.0 startups, and $ 600 million exclusively in the gaming fund “Games Fund One”.

About Web 3.0

Web3 or Web 3.0 refers to the next generation of the Internet.

The former board of directors of one of the largest cryptocurrency exchanges, Binance, has also reportedly created a $ 100 million investment fund.

“Games will play a big role in determining how we act, play and function in the next century,” Andre Horowitz said.

Co-founding sponsors include gambling companies such as King, Discord, Roblox, Zinga, Twitch, Blizzard and Riyadh Games.

Beginners in Indian gambling industry have also recognized the great opportunities as smartphone usage increases and data packages become cheaper, with more massive gambling hardware and larger screens on offer.

mobile cameras in india

India currently has more than 430 million mobile camera users and the number is expected to reach 650 million by 2025. Currently, the mobile gaming industry dominates, accounting for more than 90 percent of the country’s current $ 1.6 billion gaming market. The latest report from the Internet and Mobile Association of India (IAMAI)

“The Indian game ecosystem brings together gamers, game developers, designers, investors and marketers of all ages to deliver cutting-edge games, concepts and player transactions,” said Sean (Hyun) Son, President of IANS, India, President of Krafton. Saeed Company.

India’s game start-ups have attracted $ 1.6 billion in the nine months to 2021, according to Maple Capital Advisors, an investment banking platform.

Nearly 90 percent of the investments went to the big players in the fantasy and gaming industry, Dream Sports and the Mobile Premier League (MPL).

Big investments in the beginning of games

Major investment firms have also invested millions of dollars in other game-start-ups such as PlayShifu, Zupee and Winzo. PUBG mobile developer Crafton has invested $ 22.4 million in local sports company Notwin Gaming.

“Over the past 12 years, we’ve had to upgrade our GPUs more than 700 times, and that’s the need that comes from consumers,” said Ragin Wagada, Qualcomm’s Vice President and CEO Ragin Wagadiya.

The NFT-focused startup, known as Sandbox, recently raised $ 93 million in a round led by SoftBank Vision Fund 2, the first investment in Japanese investment firm Crypto Assets.

The NFT-based startup, known as Sfermion, received $ 100 million from two public partners, billionaires Cameron and Tyler Winklevoss Twins and A16Z.

Blockchain-based Indian startups also want to be on the world map.

Cryptotech industry in India

According to Nasscom, the crypto industry in India has expanded by more than 39 percent over the past five years. The government has said there will be no restrictions on all technologies related to blockchain or Web3.0.

According to Venture Intelligence Unicorn Tracker, in addition to a strong blockchain space, India’s technology and entrepreneurship sectors include more than 230 crypto starters and 34 Indian companies with Unicorn status.

Apart from popular crypto exchanges like WazirX, CoinDCX and CoinSwitch Kuber, India is now full of Web3.0 startups like Polygon.

Rajan Anandan, managing director of Sequoia Capital, recently stated that India represents the best in Web3.0.

“Look at Indian startups in the Web3.0 space,” Anandan said. Some of them work just fine in the field of encryption. Startups working on blockchain-based Web3.0 projects in India are still growing. Lenovo Tech World India Conference in March.

Sequoia Capital has asked its founding community to tighten its belt and focus on profitability as the capital shortage continues.

“We are just beginning to see how the cost of money affects the flow of the real economy. If you think back a few times, you are not alone. Its founder told the community.

Sequoia Capital India has invested in about 30 rhinos out of 100 Indian rhinos.

In the midst of a funded winter, startups in Blockchain / NFTs, Games and the Metaverse may for the time being breathe a sigh of relief.

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