CCP Games secures a funding round of $40 million, with A16z in the lead

On Tuesday, video game developer CCP Games announced that it had raised $40 million in a funding round led by Andreessen Horowitz, a major investment firm. The funds will be used to expand the company's research and development team to create a blockchain-based massively multiplayer online game set in the universe of Eve Online, an online game released by CCP Games in 2003. This new game will use smart contract technology to establish relationships between players and virtual worlds. Other investors in the funding round include Makers Fund, Bitkraft, Kingsway Capital, Hashed, and Nexon. Andreessen Horowitz, also known as a16z, announced its first gaming-specific fund in May 2022, with $600 million in committed capital. It is also one of the largest investors in the cryptocurrency industry, with a $4.5 billion purse for its fourth crypto fund. A16z general partner Jonathan Lai stated in the announcement that CCP Games is a veteran team and a pioneer in virtual worlds and digital economies, with 25 years of experience creating living sandboxes with unparalleled depth. He further expressed belief in their vision to deliver extraordinary player experiences at the intersection of game design and blockchain technology.