King River Capital, Immutable, and Polygon Labs have joined together to launch the Inevitable Games Fund, formed to invest in Web3 games. The fund will have a maximum cap size of $100 million and has already secured commitments from Alpha Wave Ventures, Merit Circle, and others.
Polygon Labs co-founder Sandeep Nailwal, Immutable co-founders James Ferguson and Robbie Ferguson, CrunchFund and Arrington Capital co-founder Mike Arrington, and Sonic Boom Ventures’ Steve Kokinos are among the angel investors.
Inevitable innovation
The Inevitable Games Fund will look for promising early-stage Web3 gaming companies to invest in and is ecosystem agnostic, committed to growth and innovation across the sector rather than in one specific ecosystem.
Of the fund’s founders, King River Capital will manage IGF deployment with its investment experience and background, while Immutable and Polygon Labs will offer their expertise in digital assets and Web3 gaming deals.
Among the Web3 games already identified for potential investments so far, the fund is considering Pixelmon, Guild of Guardians, My Pet Hooligan, and Metalcore. The latter, an open-world PVP game, is leveraging both Web3 and AI technology.
"Spending on video games exceeds the global revenue from movies, streaming TV and the music industry, combined, and it is ripe for a huge technology shift. Just as mobile gaming went from virtually zero in 2008 to 79% of gamers playing mobile today, we believe a similar shift has only just begun to Web3 technology," said King River Capital co-founder and managing partner Zeb Rice.
"The Fund provides investors with an opportunity to gain unique access to the best Web3 gaming projects globally and is designed to benefit from this multi-hundred billion dollar shift in spending to this disruptive new technology.”
Immutable president and co-founder Robbie Ferguson added: "We are excited to be launching this pioneering fund in partnership with King River Capital and assisted by Polygon Labs. Our combined expertise, global relationships, and industry reach ideally position the Fund to identify and invest in the best Web3 gaming infrastructure opportunities globally."
Final Fantasy maker Square Enix has just invested in Web3 games platform HyperPlay as it aims to explore new avenues within the Web3 gaming realm.
