Google Inc. to Invest $20 Million on Carry1st (an Africa based WEB 3.0 Game Publisher)

Carry1st, a publisher of web 3.0 and online games, has secured $20 million in Series A investment to boost product development in South Africa, which has the potential to become the primary gaming hotspot in the next decades.
Including participation from Avenir and Google owner Alphabet, the funding round was managed by Venture Capital firms firm Andreessen Horowitz, which has been engaged in the blockchain industry. Riot Games, Konvoy Ventures, Raine Ventures, and TTV Capital, among Carry1st's current backers, took part in the funding round.

Carry1st plans to utilize the funds to increase its content inventory, expand its in-house development team, and launch a new growth strategy aimed at attracting tens of millions and millions of users. The development of infrastructure to accommodate play-to-earn games, which lets players monetize their playing experience, is a central aspect of their growth plan.

Alphabet's funding in Carry1st is part of the company's Africa digital transformation programme, which CEO Sundar Pichai announced in October 2021. Pichai highlighted Africa as a significant growth engine for the global economy at the time, predicting that 300 million people will join the internet in the following five years. So many of the newbies will be gamers if current patterns provide any clue.

Carry1st looks to be in a strong position to capitalize on this potential as Africa's top publisher of social games. Aside from providing a full-stack publication, the firm also creates games with incorporated payment systems and virtual stores to help with commercialization. Tilting Point, the producer of Nickelodeon's SpongeBob: Krusty Cook-Off, and Sweden's Raketspel are among the studios with whom the firm has publishing agreements.

News Source: https://cointelegraph.com/news/a16z-google-lead-20m-investment-in-africa-web3-game-publisher-carry1st

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