Gaming venture capital entity Konvoy Ventures is reportedly releasing a $150 million fund, with a minimum of $30 million is to set aside for financially supporting numerous crypto and blockchain-based games.

Specifically, the US-based company reportedly disclosed details related to the release of Konvoy Fund III, with $150 million in capital down its pipeline for the investment into a wide range of platforms and technologies in the global gaming sphere. 

As revealed by Bloomberg, approximately 30% ($45 million) of the fund will be devoted towards the crypto and blockchain gaming industry.

Konvoy has established a reputation across the sphere of cryptocurrencies and blockchain-based games. The firm possesses an impressive portfolio of gaming firms and initiatives that received its financial support via funding, nominally Axie Infinity creators Sky Mavis, Metaverse avatar platform Ready Player Me and open-world nonfungible token (NFT) game Genopets.

The company reportedly made investments into 35 establishments overall to date, via its first two funds throughout North America, Europe, the Middle East, Africa and South-East Asia.

Interest in blockchain-powered games has witnessed a surge throughout the past year, with play-to-earn and NFT-featuring games concreting their standings in the sector. 

There has been no shortage of funding either, with Konvoy’s most recent fund following a $32 million investment made by Animoca Brands, Samsung Next and WeMade into Planetarium Labs.

A recent report generated by DappRadar also revealed ongoing interest in GameFi initiatives. The likes of A16z and Dapper Labs have pledged around $1.3B in investments in GameFi and metaverse projects and technologies.