In a Series B funding round, led by the crypto and gaming funds of Andreessen Horowitz, the Estonian company Ready Player Me, which makes avatars for the metaverse, raised $56 million.
In a news release, investors like Justin Kan, who helped start Twitch, and David Baszucki, who helped start Roblox, as well as Kevin Hart’s Hartbeat Ventures, are named.
With the new money, the team of 51 people will grow, and developer tools will be made that will let companies make avatars that can be used in many different virtual worlds.
Ready Player One got $13 million in funding in December, and Tencent, Huawei, HTC, Wargaming, and Verizon have all worked with it since then (VZ).
DappRadar released a statistic in April that said gaming now makes up 52% of all blockchain activity. This shows that blockchain gaming has grown quickly in 2018. The same research shows that $2.5 billion was raised in the first quarter of 2022, which is 150% more than the same time last year.
Andreessen Horowitz set up its first gaming fund in May, putting $600 million into it. Even though the market dropped, the company moved quickly to launch its fourth crypto fund, which is worth $4.5 billion. By doing this, it doubled down on the crypto sector.
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