AUSTIN, Texas–(BUSINESS WIRE)–Fundamental Labs, a venture capital firm focused on blockchain and digital assets, announced the recent hire of Vinayak Rao as Principal, GameFi Lead. Rao will be primarily responsible for supporting founders through investments and resources in the web 3.0 and blockchain gaming ecosystem.
Prior to joining Fundamental Labs, Rao worked for Facebook where he led the social network’s gaming product partnerships team, launching its tournament platform that served grassroots organizers and large-scale publishers. He also launched Rival Peak, a fully simulated reality TV show in a game engine – a platform that allowed games to be playable in addition to video content, blurring the line between viewership and gameplay.
Commenting on his appointment, Rao said: “I am a long-time player and have always appreciated the opportunity to combine my passion with my career. The opportunity with Fundamental Labs is very exciting. The role allows me to stay close to the game while influencing amazing and creative gameplay-changing projects through blockchain technology.
Managing Partner, Henry Love, added: “The GameFi world is changing rapidly. Web 2 game companies are all finding ways to enter the Web 3 world. Vinayak’s extensive network and strong track record in the gaming world make him an undisputed leader who can bring new vision and support to the game. Web3 and GameFi ecosystem. We are beyond excited to have him lead our gaming investment thesis and represent us on the West Coast.
GameFi, short for Game-Finance, and dubbed “play to win” is the latest trend in gaming allowing players to earn cryptocurrency or NFT rewards for reaching various milestones in blockchain games.
Fundamental Labs kicked off 2022 with strategic investments in Metaplex SuperDAO, a Solana ecosystem project, and ICHI as part of its broad investment mandate that spans themes including Web3, DeFi, NFT, GameFi, and DAO – at all stages of development. He was recently a major investor in the Binance.US seed round.
Find out more about fundamental laboratories
Fundamental Labs is a leading venture capital firm that invests in blockchain-focused start-ups at various growth stages. Its remit includes themes such as Web3, DeFi, NFT, GameFi, and DAO. As of April 2022, it has invested over US$1 billion in more than 300 companies, in a series of five funds and will launch a sixth fund later this year.
Fundamental Labs has offices around the world and operates key hubs in North America and Asia to seize market opportunities and support its portfolio companies.