Beam Foundation to Launch $150M Blockchain Gaming Fund in Abu Dhabi, Eyes Regulatory Approval

The Beam Foundation has revealed its intention to launch a new venture fund in Abu Dhabi, aimed at supporting blockchain gaming projects. 

The fund, creatively named Beam Ventures, is set to begin operations in the first half of 2025 with a capital pool of US$150M (AU$235M), financed by local investors. 

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The fund will invest mostly in blockchain-based infrastructure and GameFi, but will also finance startups working in certain fields like artificial intelligence (AI), augmented reality, and user-generated content. Additionally, Beam Ventures will offer an accelerator program to help general startups and projects, aiding them in brand development, market entry strategies, and business growth.

On a technical aspect, Beam uses blockchain to provide a sovereign network for game developers, enabling the creation of games where players have ownership over in-game assets. Currently, around 20 games are available on Beam’s platform.

Abu Dhabi Embracing Innovation

According to Beam’s Chief Strategy Officer Mark Borsten, the project is in the process of securing regulatory approval to operate in Abu Dhabi. Accordingly, the licensing process is “nearing completion”. 

Borsten shared on X that after an initial exploratory visit to Abu Dhabi, the team felt the city “embraces innovation”. They reportedly partnered with key stakeholders to push forward with Beam Ventures:

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.

Mark Borsten, Beam Chief Strategy Officer

Following a challenging period known as the ‘crypto winter’, the gaming sector has seen a resurgence, strengthened by the recent rally in the crypto market in 2024 shortly after Donald Trump’s landslide win against Democratic nominee Kamala Harris. 

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A report from DappRadar indicates that blockchain gaming captured a 28.2% market share in November, with an average of 6.8 million daily active wallets. Venture capital in this sector reached US$222M (AU$346M) during this period.