FTX, Lightspeed, Solana Ventures to Invest $100M in Web3 Gaming

FTX, Lightspeed, Solana Ventures to Invest 0M in Web3 Gaming
FTX, Lightspeed Venture Partners and Solana Ventures are investing $100 million in Web3 gaming development, the companies announced Friday.The funding will support gaming studios and tech that integrate the Solana blockchain into video games on desktop and mobile platforms.The initiative has already resulted in its first investment with FTX and Lightspeed leading a $21 million funding round for gaming studio Faraway.Lightspeed said it’s already invested $300 million in “early-stage gaming and crypto companies” that include Epic Games, 1047 Games, TripleDot Studios, Offchain Labs, Alchemy and Wintermute..Web 3 gaming has skyrocketed in popularity with play-to-earn titles such as Axie Infinity and…