a16z leads $23m funding round for NFT platform Cryptoys

Cryptoys, a gaming NFT platform, has raised $23 million in a Series A round led by venture capital firm Andreessen Horowitz (a16z).

BIG news fam!

We’ve raised a $23M round of funding from @a16z, @TimDraper, @Mattel, @coinfund_io, @sound_ventures_, @AcrewCapital, @dapperlabs, @animocabrands & others to usher in a new era for the world of toys and gaming! 🥳

More details:https://t.co/Y2BcnUMfB9

— Cryptoys (@Cryptoys) June 23, 2022

Dapper Labs, Draper & Associates, CoinFund, Animoca Brands, Sound Ventures and other investors also participated in the round.

The funds will be used to build an NFT-based gaming universe and to produce an animated series. In the near term, the team plans to unveil three characters from the series.

According to the press release, in October 2021 the startup raised $7.5 million led by a16z. An early investor is also CoinFund.

In late May a16z raised $4.5 billion for a new fund focused on games, non-fungible tokens and other crypto startups.

Earlier, venture capital firm launched a $600 million fund focused on “gaming infrastructure and metaverse technologies”.

On June 21, Uniswap Labs announced the acquisition of the NFT marketplace aggregator Genie.

The Solana-based NFT marketplace Magic Eden raised $130 million from Electric Capital and Greylock Partners, and eBay acquired the NFT platform KnownOrigin.

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