The cryptocurrency investment firm Mechanism Capital announced the launch of a $100 million fund to invest in projects based on the play-to-earn concept. CoinDesk reports.
Company representatives noted that Mechanism Capital would establish direct partnerships with game developers in addition to providing capital. The fund, named Mechanism Play, will be led by former Apple executive Steve Cho.
“We want to support games that people want to play, regardless of crypto incentives,” said the company’s chief Mark Weinstein in an interview with the publication.
Earlier, Mechanism Capital participated in financing rounds for major projects, including the dTrade derivatives platform, AlchemyNFT and Nansen.
In December 2021, the Gala Games gaming platform and venture firm C² Ventures announced the launch of a $100m fund for investments in game developers and new blockchain-based projects.
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