Crypto-focused investment firm a16z led a Series A investment in the game studio Voldex. The amount wasn't disclosed.
Voldex raises the quality of user-generated content platforms like Roblox and Minecraft by acquiring and improving existing games.
"These platforms’ massive, growing user bases and the Voldex team’s deep understanding of the UGC game space make Voldex well-positioned to drive significant growth in the years to come," a16z's Andrew Chen and Jack Soslow said in a statement. Roblox alone has over 58.8 million users.
A16z as of December had deployed less than 50% of its Crypto Fund 4, a $4.5 billion investment fund launched in May, The Block previously reported. Founder and general partner Chris Dixon expressed excitement as to what 2023 held in store for blockchain-based gaming, particularly around the community building aspect of web3 games.