Andreessen Horowitz invests $40m in CCP Games

The investment giant has funded the Icelandic firm to focus on massively multiplayer online gaming.

Reykjavík-based video game developer CCP Games has raised $40m in a funding round led by Andreessen Horowitz.

Other participants in the round included venture capital firms Bitkraft, Makers Fund and Nexon, among others.

The funds will be used to expand CCP Games’ research and development team to build a blockchain-based massively multiplayer online game based on the free-to-play, spaced-based game, Eve Online.

The new game will use smart-contract technology to create relationships between players and virtual worlds.

Considered an established investor in the crypto industry, Andreessen Horowitz, also known as a16z, announced its first gaming-specific fund in May 2022 with $600m in committed capital.

With the help of a16z’s funding, CCP Games' new project is set to leverage blockchain technology providing users with experiences utilizing NFTs, decentralized asset ownership and smart contracts.

“CCP Games is a pioneer in virtual worlds and digital economies with 25 years of experience creating living sandboxes with unparalleled depth”, said a16z general partner Jonathan Lai.

“They're a veteran team, and we believe in their ambitious vision to deliver incredible player experiences at the intersection of best-in-class game design and blockchain technology.”

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Written by Isabella Aslam

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Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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