30 Mar Unicorns in Gaming

Recent years have seen an uptick of companies in the video game and metaverse space see IPOs and acquisitions. Take Roblox, which had its IPO in 2021. By years’ end in 2020, it was reported that users spent over thirty billion hours on the platform. The next year, Roblox captured 32.6 million users per day. Like many other visionary tech CEOs, Roblox’s Baszucki believes that the platform is accelerating the implementation of the metaverse in the lives of consumers.

Another recent IPO, Unity Technologies, is advancing the field of gaming. Rather than developing new games directly for consumers, they have made significant investment in gaming engines that save time for developers tackling new concepts. Of their employees, over half of the headcount is engaged in research and development of these development tools.

Allow me to with just one more unicorn illustrate the dynamically evolving landscape of gaming. As NFTs take the fintech world by storm, they too have invaded the future of leisure space. Mythical Games, a startup with a round recently led by Andreessen Horowitz, has been developing the technology of “playable NFTs” so that players can truly (thank you blockchain) own the characters they play with. Having fundraised over 270 million dollars, the company is seeking to release a multiplayer game along with their “Mythical Marketplace” they hope to license to game developers to create player-owned economies with secure, blockchain-based technology.

With so much heat in the sector, it is critical to identify and support unique ventures poised for disruption.

Sebastian Russo, Market Research & Analysis Intern VDK Capital & Freshman at Stanford University

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