AAA Game Raises $40M from a16z and Major Investors
At the end of March 2023, venture capital firm a16z initiated an investment in the AAA game project Projectawakening.io, promising to bring significant changes to the Web3 Gaming market in the future.
Led by the venture capital firm Andreessen Horowitz, with participation from Makers Fund, Bitkraft, Kingsway Capital, and Hashed, among others, the funding round marks a substantial endorsement for the new venture.
About CCP Games
CCP Games, known for the massively multiplayer online game Eve Online, announced that they have secured $40 million in funding from external partners to develop a new AAA game set in the Eve universe.
According to CCP Games, the upcoming project will leverage blockchain technology and smart contracts to develop core game systems, prioritizing durability and interoperability, while allowing third parties to develop open connections between players and the virtual world. CCP Games aims to forge new relationships between virtual worlds and players by developing a game with deeper player autonomy and decision-making capabilities. The developers believe that blockchain technology will support these goals.
Founded in 1997, CCP Games is headquartered in Reykjavik, Iceland, with additional studios in London and Shanghai.
About a16z
Andreessen Horowitz, also known as a16z, is a leading venture capital firm that faced billions in losses in the cryptocurrency industry in 2022. Despite setbacks, a16z has stated its commitment to investing in the cryptocurrency market and the Web3 vision of the internet. Speaking to The Wall Street Journal on October 26, Chris Dixon, a general partner at a16z, noted that the downturn in the cryptocurrency market presents an opportunity to continue supporting cryptocurrency entrepreneurs, believing in the long-term development prospects of the sector.
On January 17, Carry1st, a games publisher in Africa, raised $27 million in a funding round with participation from Andreessen Horowitz. This funding will be used to drive its digital content creation and publishing platform, as supporters believe that the African continent is ripe for Web3 adoption.
