What is Blockchain Gaming?
Blockchain, also known as Web3 gaming, is a new type of technology that leverages cryptocurrencies, NFTs, and also decentralized ledger technology. Benefits include the ability to earn digital assets, make money through yield, profit from games through investments, easily trade in-game assets, transfer in-game assets, and more. Blockchain gaming is still in it's early stages and the possibilities of the technology are still to be discovered.
The most popular benefit of blockchain gaming is crypto token rewards, created by an in-game economy. Some games require an investment in tokens or NFTs, while others allow people to earn crypto by playing. The P2E gaming industry is increasingly becoming a prominent feature in the gaming industry and attracting many early stage investors. Prominent games include Axie Infinity and Sand.
Play-to-Earn, Play-and-Own, and Crypto Gaming are the Same
Play-to-earn gaming, video games and virtual worlds are places where gamers play for crypto token rewards, created by an in-game economy. Some games require an investment in tokens or NFTs, while others allow people to earn crypto by playing. The P2E gaming industry is increasingly becoming a prominent feature in the gaming industry and attracting many early stage investors. Prominent games include Axie Infinity and Sand.
How we Rank these P2E Investment Firms?
- Assets Under Management: The most prominent and active investors in the P2E space.
- Units Under Management: How large are the investments, although this may vary by stage of investment.
- ROI/Success: How successful have these firms been when investing in P2E ?
- Peer ranking: How well do the peers of these companies recognize their impact on P2E?
These Play To Earn Investors share their expert insights on many of the most frequently asked questions in the industry.
What does Play-to-Earn mean?
What is Play-to-Earn crypto Games?
Which NFT game is free to play?
What is the best Play-to-Earn Game?
Where does Play Get Money Come From?
List of Top Play To Earn Investors
- Founded: 2014
- Headquarters: Hong Kong, SAR
- Founded: 2012
- Headquarters: New York City, New York
Winklevoss Capital is a family office founded in 2012 by Tyler Winklevoss and Cameron Winklevoss. The firm invests across multiple asset classes with an emphasis on providing seed funding and infrastructure to early-stage startups. The company is headquartered in New York’s Flatiron District. They have made numerous blockchain focused investments and recently invested in the blockchain gaming company Animoca Brands. The firm is well known for its investments across the crypto and blockhain space in general.
- Founded: 2019
- Headquarters: Santa Monica, California
Based out of Santa Monica California, and led by managing director Phil Sanderson, the firm, solely focuses on investing in gaming platforms, gaming contents and gaming studios. The company has invested in a range of important projects including Forte, which builds a blockchain based gaming platform and provides fungible and non-fungible tokens.
- Founded: 2012
- Headquarters: Santa Monica, California AUM: $1.2 billion
Based out of New York City, the technology focused fund, seeks to invest in the media, entertainment and commerce industry. LCV invests in companies building blockchain technology solutions and companies implementing blockchain technology (Seed through Series D) with a focus on fintech, Web 3.0, gaming, metaverse, and supply chain logistics. The company has invested in numerous blockhain startups including games like Paxos .
- Founded: 2009
- Headquarters: Menlo Park, California
- AUM: $18 billion
Andreessen Horowitz is a private American venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. Andreessen Horowitz invests in both early-stage start-ups and established growth companies. The company has invested in a number of prominent play-to-earn games including Axie Infinity, where it led the Series-B round.
- Founded: 1983
- Headquarters: Palo Alto, California
- AUM: $1 billion
Based out of Palo Alto California, Accel Partners is one of the most well-known venture capital firms in the world that invests in early-stage ventures. A significant majority of their companies went onto become prominent public companies. They typically invest from series-A to Series-D. They have invested in prominent P2E/crypto gaming platforms including the likes of Axie Infinity.
What are investment firms looking for when they invest in P2E gaming?
Investment firms are increasingly looking for sustainable play-to-earn gaming platforms. This may include features such as in-game NFT, tokens etc. They are focused on all types of gaming including roleplay, first person shooters, etc. They have also increasingly invested in gaming ‘guilds’.
- Founded: 2020
- Headquarters: Ho Chi Minh, Vietnam
- AUM: $75 million
Headquartered out of Ho Chi Minh, Konvoy is primarily focused on helping the next generation gaming and esports companies. The company has invested in numerous prominent early-stage gaming ventures including, Sky Mavis, Bunch, Dorian, and Genopats, which is one of the first free-to-play/move-to-earn NFT platforms.
- Founded: 2018
- Headquarters: New York, New York City
- AUM: $260 million
Based out of New York City, Galaxy Interactive is looking to primarily invest in the intersection of gaming and Web 3.0. One of these gaming investments is Immutable and it has already released Gods Unchained, Ethereum’s highest-grossing trading game. The fund has invested across 60 companies, including Guild of Guardians, a NFT role-playing game that is being backed by UBISOFT.
- Founded: 2018
- Headquarters: San Francisco, California
- AUM: $500 million+
With offices in San Francisco, London, Tokyo, and Singapore, Makers Fund is a global interactive entertainment venture capital firm focused on early stage investments. It recently raised $200 million to invest in interactive entertainment like BetaDwarf, It released FORCED in 2013, Since then, Betadwarf has released SHOWDOWN and reached millions of players with Minion Masters, a full free-to-play title.
- Founded: 2018
- Headquarters: Berlin, Germany
- AUM: $200 million
Headquartered out of London, United Kingdom, BITKRAFT Ventures is an early-stage and mid-stage investment platform for gaming, esports, and interactive media. The company invests across a range of P2E platforms including the likes of gaming bolt. Founded by the owner of G2 Esports the company is increasingly looking to invest in Metaverse related games as well.
What is the market potential of the P2E industry?
The global gaming market is expected to reach a total of $400 billion by 2026 according to research forecasts.. P2E gaming has already reached $1 billion+ in revenue. And could command anywhere from 20-30% of the market by 2025. Analysts expect significant growth until 2030, as investors increasingly look to a new model of gaming, where gamers are a part of the revenue ecosystem. This could translate into a market that is potentially worth $75 billion by 2026.
- Founded: 2018
- Headquarters: London, United Kingdom
- AUM: $400 million
Based out of London, Hiro Capital is a top blockchain gaming investor. They focus on Games, E-Sports, and Digital Sports. The fund provides both venture capital and private equity investments, including both early stage and mid stage investments. They have experience from the startup stage to the IPO stage. The company has invested in prominent gaming companies such as Light Fox Games.
- Founded: 2018
- Headquarters: Singapore
- AUM: $200 million
Based out of Singapore, play ventures invests across global gaming startups. They provide early-stage capital to startups. The company has invested in a number of prominent ventures, and is always on the lookout for the next $100m+ game.
- Founded: 2017
- Headquarters: Moscow, Russia
- AUM: NA
With many years of experience in the traditional gaming industry, MG VC, has become a top investor in the blockchain/P2E gaming industry. Their prominent investments include three gaming studios: Tworogue Games, Wide View Games, and Vox Studio. Their focus has primarily been on gaming platforms based in Eastern Europe.
- Founded: 2014
- Headquarters: Santa Monica, California
- AUM: $100 million
Based out of Santa Monica, with a focus on gaming, and run by life-long game, March gaming has become a prominent venture investor in early-stage P2E games. They were early investors in games such as Small Giant Games, which was acquired by Zynga. They are on the lookout for early-stage blockchain and P2E opportunities, along with traditional gaming platforms.
What is the future of the P2E industry?
Crypto Gaming is increasingly witnessing a range of players that are either trying to build a community/guild, or are trying to earn significant money from playing the games. While a lot of games will not survive due to poor economics, crypto gaming will increasingly witness consolidation in the industry among games that are sustainable. Look for games that have strong in-game economics, and gameplay that is sustainable and fun.
- Founded: 2018
- Headquarters: Ho Chi Minh, Vietnam
- AUM: $150 million
LVP is a London based, early stage venture capital firm, focused on finding gaming opportunities They focus on mobile, online, and P2E games. They have invested in a range of NFT, and crypto gaming platforms, including the likes of Third Time Entertainment. They are increasingly focused on crypto and NFT gaming.
- Founded: 2020
- Headquarters: Tel Aviv
- AUM: $200 million
Based out of Tel-Aviv, the games focused venture fund is increasingly looking to help P2E games achieve scale, right from the ideation stage to the inception stage. They have invested in a number of prominent platforms including Dorian games, Superplay, and games such as Bandit etc.
- Founded: 2022
- Headquarters: NA
- AUM: $100 million
Mechanism Capital is looking to increasingly capitalize on the NFT/P2E revolution. Having raised $100 million dollars in 2022, the company is increasingly looking to fund early-stage gaming companies. They are increasingly focused on mobile gaming and believe the market forP2E will witness significant growth.
- Founded: 2020
- Headquarters: NA
- AUM: $70 million
Established in 2020 and, headquartered in New York, New York, United State, crossbeam is an early-stage venture capital firm that is looking to invest in fintech and blockchain. Investing in P2E platforms, and NFT focused games, crossbeam is looking to make significant investments in the space of blockchain gaming.
