{"id":10207,"date":"2022-04-19T23:59:24","date_gmt":"2022-04-19T23:59:24","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/framework-ventures-allocates-half-of-400m-fund-to-web3-gaming\/"},"modified":"2022-04-19T23:59:25","modified_gmt":"2022-04-19T23:59:25","slug":"framework-ventures-allocates-half-of-400m-fund-to-web3-gaming","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/framework-ventures-allocates-half-of-400m-fund-to-web3-gaming\/","title":{"rendered":"Framework Ventures allocates half of $400M fund to Web3 gaming"},"content":{"rendered":"
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Crypto-focused venture firm Framework Ventures has raised $400 million in new funding to invest in early-stage companies across the Web3, blockchain gaming and decentralized finance (DeFi) industries.\u00a0<\/p>\n
The completed raise will go towards \u201cFVIII,\u201d an oversubscribed fund worth $400 million, the company announced Tuesday. Approximately $200 million of that total will be allocated to the emerging blockchain gaming industry. <\/p>\n
The venture firm, which had early exposure to DeFi, now has over $1.4 billion in assets under management. Framework Ventures was an early investor in projects such as Chainlink, Aave and The Graph. <\/p>\n
Like DeFi in 2020, gaming and Web3 have been identified as the next major growth plays for the blockchain industry. Axie Infinity \u2014 a popular play-to-earn game constructed around collecting digital pet avatars called Axies \u2014has provided a solid use case for this emerging paradigm. According to blockchain analytics platform Nansen, there are currently 2.8 million unique addresses holding 11.1 million Axies. <\/p>\n
\nWeb3 and NFTs stole the show at SXSW 2022, while BTC and cryptocurrency enjoyed very little focus. https:\/\/t.co\/e38F0Hifon<\/p>\n