Beam Foundation plans to launch Beam Ventures, a US$150 million venture fund in Abu Dhabi, to support blockchain gaming projects. Beam Ventures invests in blockchain infrastructure, GameFi, AI, augmented reality, and user-generated content startups and provides accelerator programs.
Beam Foundation has announced its intention to launch a new venture fund in Abu Dhabi to support blockchain gaming projects.
The fund, creatively named Beam Ventures, is expected to begin operations in the first half of 2025 with a capital pool of US$150 million (A$235 million), with funding from local investors. .
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The fund will primarily invest in blockchain-based infrastructure and GameFi, but will also fund startups working in specific areas such as artificial intelligence (AI), augmented reality, and user-generated content. In addition, Beam Ventures offers an accelerator program that supports ordinary startups and projects, helping them with brand development, go-to-market strategies, and business growth.
On the technical side, Beam uses blockchain to provide game developers with a sovereign network, allowing them to create games where players have ownership of in-game assets. There are currently around 20 games available on Beam's platform.
Abu Dhabi embraces innovation
Mark Borsten, Beam's chief strategy officer, said the project is in the process of seeking regulatory approval to operate in Abu Dhabi. Therefore, the licensing process is “almost complete”.
Borsten shared with X that after the first research visit to Abu Dhabi, the team felt the city was “embracing innovation.” They have reportedly partnered with key stakeholders to advance Beam Ventures.
A few months ago, we went on our first exploration trip. Shortly thereafter, we shook hands with the best people to make Beam Ventures a reality. We are currently finalizing the licensing process and will be able to move more proactively towards funds and accelerators in the near future.
Mark Borsten, Beam Chief Strategy Officer
After a difficult period known as the “crypto winter,” the gaming sector makes a comeback, strengthened by recent gains in the crypto market in 2024, just after Donald Trump’s landslide victory over Democratic candidate Kamala Harris It was done.
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According to a report by DappRadar, blockchain gaming gained 28.2% market share in November, with an average of 6.8 million daily active wallets. Venture capital in this sector reached US$222 million (AU$346 million) during this period.
Source: DappRadar
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