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The Beam Foundation has disclosed plans for an upcoming venture fund in Abu Dhabi targeting blockchain gaming projects.
According to a Dec. 11 announcement, the fund will launch in the first half of 2025 and manage $150 million in capital backed by local investors. 
The fund’s investment thesis is primarily focused on blockchain-based games and gaming infrastructure, but capital will also be deployed for startups working on solutions tied to artificial intelligence, augmented reality and user-generated content.&nbsp;
Along with funding, the new venture arm will provide an accelerator program for startups focusing on brand building, go-to-market planning and growth. On X, Beam’s chief strategy officer, Mark Borsten, <a data-ct-non-breakable="null" href="https://x.com/meritcirclorr/status/1866755381818507380" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/meritcirclorr/status/1866755381818507380">said</a> the project is currently waiting for regulatory approval to operate in Abu Dhabi:&nbsp;
<blockquote>
 “A few months ago, we went on a first exploration trip. Soon after, we shook hands with the best parties to make Beam Ventures happen. Today, we are finalizing the licensing process and can be more forward-facing with the fund and accelerator very soon.”
</blockquote>
Beam uses blockchain technology to offer a sovereign network for game developers, allowing them to build games with asset ownership for players. About 20 games are currently featured on its platform.&nbsp;
After tough times during the crypto winter, the gaming industry has seen a comeback as cryptocurrency prices soared in 2024. 
According to data <a data-ct-non-breakable="null" href="https://dappradar.com/blog/wave-of-innovation-pushes-web3-gaming-to-record-heights" rel="nofollow noopener" target="_blank" text="null" title="https://dappradar.com/blog/wave-of-innovation-pushes-web3-gaming-to-record-heights">compiled</a> by DappRadar, the blockchain gaming sector gained a 28.2% market share in November, with an average of 6.8 million daily active wallets. Venture capital investments in startups reached $222 million.&nbsp;
<figure>
 <img alt="Beam Foundation to debut $150M gaming fund in Abu Dhabi" src="https://s3.cointelegraph.com/uploads/2024-12/0193b6a3-0f61-770a-86a8-0e76057d1c5b" title="">
 <figcaption style="text-align: center;">
 Investments in Web3 gaming. Source: DappRadar
 </figcaption>
</figure>
<h2 id="abu-dhabi-s-crypto-strategy">Abu Dhabi’s crypto strategy</h2>
Abu Dhabi has been actively developing a local Web3 ecosystem over the past few years through a combination of regulatory frameworks and investments, making it a crypto-friendly location that has attracted a growing number of startups.&nbsp;
A few crypto firms that established operations in Abu Dhabi during 2024 <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/qcp-capital-abu-dhabi-regulatory-approval-crypto-trading" rel="" target="_self" text="null" title="https://cointelegraph.com/news/qcp-capital-abu-dhabi-regulatory-approval-crypto-trading">include options trading platform QCP Capital</a>, venture firms Hashed Ventures and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/nomura-crypto-laser-digital-abu-dhabi-license" rel="" target="_self" text="null" title="https://cointelegraph.com/news/nomura-crypto-laser-digital-abu-dhabi-license">Laser Digital</a>, along with market maker <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/dwf-labs-headquarters-move-abu-dhabi" rel="null" target="null" text="null" title="null">DWF Labs</a>, to name a few. 
In June, the Central Bank of the United Arab Emirates approved the issuance of a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/uae-stablecoin-licensing-system" rel="" target="_self" text="null" title="https://cointelegraph.com/news/uae-stablecoin-licensing-system">new stablecoin licensing and monitoring system</a> for local companies.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/saudi-arabia-riyadh-crypto-city-guide/" rel="" target="_self" text="null" title="https://cointelegraph.com/magazine/saudi-arabia-riyadh-crypto-city-guide/">Saudi Arabia’s Riyadh may be crypto’s sleeping giant: Crypto City Guide</a>

Beam Foundation to debut $150M gaming fund in Abu Dhabi

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Cointelegraph

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