While many experts have been voicing out about the crypto market going on a downtrend, Michael Anderson aka the co-founder of Framework Ventures believes that now is possibly the best opportunity to invest in new projects and startups.
In 2019, Framework Ventures spearheaded its first move amid the previous bear market, and such conditions would be the best time to build, said Anderson.
The crypto market may be in its tenth month of the downtrend, but for Michael Anderson, the co-founder of Framework Ventures, this time represents possibly the best opportunity to invest in new startups and projects.
“We were lucky to have launched our last fund, we are investing very actively right now, and we are very excited about everything we see.”
Last April, the company secured its third fund at $400 million, out of which half of the amount will be set aside for investments in the blockchain gaming industry.
“Gaming, in our minds, is the category that is going to bring a hundred million people into Web3. They are going to have wallets, they are going to have Web3 addresses, and that’s the consumer adoption that we have been waiting for.”
The company is convinced that blockchain gaming will turn into one of the world’s largest forms of employment in the future, which technically, they ain’t wrong.
Based on a report by Forbes, the industry grew 2,000% in 2021 and has ever since attracted over $2.5 billion worth of investments.
In blockchain gaming, players get to trade their acquired items for monetary value while the game companies could have their assets become persistent platforms on top of which other developers can build experiences.
While the idea and concepts do sound fascinating, people in general also need to keep in mind that the space, nonetheless, is still young.
