Solana, Lightspeed, and FTX announce web3 gaming investment initiative

Solana Ventures, Lightspeed Venture Partners, and FTX have announced a $100 million investment initiative centered around Web 3 gaming.

The investments in the initiative will be allotted for blockchain-based games and tech. The first studio to benefit from this is Faraway, a new Web 3 (a reference to the decentralized web powered by the secure and transparent digital ledger of blockchain) gaming studio that raised $21 million on Thursday. Faraway is preparing to launch its first game, Mini Royale: Nations as the first live multiplayer title on the Solana blockchain.