Animoca Ventures lead hopes console giants, not ponzinomics, will save web3 gaming
“Console makers never cared about free-to-play until it grew into multimillion users,” Ho said. “What we’re seeing here now is some of the console makers with their deep pockets want to get involved in potentially a fund to stay on top of innovation… And that to me is a signal that they want to build something in this space in the near future, or not too distant future.”
When its first fund was unveiled, crypto venture funding hit nearly $3.4 billion2 dollars for the month of May last year. Funding tumbled since then alongside cryptocurrency prices and the collapse of several firms including Voyager and Genesis. Still, last month was the highest month in venture funding for the blockchain sector year to date, receiving just shy ofThe funds come mostly from external institutional backers, though Animoca Group’s cash is also in the mix.
over the weekend revealing that its token reserves stood at $2.7 billion at the end of April, down 36% from the previous year.
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