Beam Ventures has announced a $150 million fund to make Abu Dhabi a global leader in gaming. This is the first gaming-focused fund from the Abu Dhabi Global Market (ADGM), but it is just one of four big projects Beam has revealed this week.

The fund will support startups in web3 gaming, AI, and virtual and augmented reality (VR/AR). It also includes a web3 gaming accelerator, set to open for applications in early 2025.

Beam's Global Expansion

The $150 million fund aims to attract top talent to Abu Dhabi. Beam Ventures plans to work with local partners like Sophon and Aethir Cloud to create a strong gaming ecosystem. Abu Dhabi is already known for gaming events like esports tournaments and summits, and Beam's fund builds on this momentum.

According to Mark Borsten, Chief Strategy Officer at Beam Ventures: "We're convinced that Abu Dhabi is set to be the epicenter of the world's most exciting, pioneering tech and gaming innovation for years and decades to come. We have always sought the cutting edge at Beam Ventures – and we know that with this collaboration we have found exactly that."

The accelerator program will offer startups resources and mentorship. It's designed for early-stage companies in blockchain, gaming, and AI. Founders can join in person or remotely, making it accessible to global talent.

Saeed Al Fazari, Strategic Affairs Executive Director at the Department of Culture and Tourism, said: "This fund is another step forward in ensuring Abu Dhabi becomes a global hub for gaming excellence and innovation."

More Projects from Beam

Alongside the fund, Beam unveiled three other major projects this week:

BeamAI: Self-Learning AI Agents

BeamAI is Beam's new AI division. It's led by a University of Oxford-trained mathematician. The division focuses on creating self-learning AI agents to handle operations. Its first research paper will be published next week. For now, BeamAI promises tools to "hire self-learning AI agents to run your operations."

Beam L1: Blockchain Upgrades

Beam is upgrading its blockchain infrastructure with the Avalanche Etna upgrade. This will make launching a Layer 1 blockchain 99.9% cheaper. It also cuts fees on Avalanche's C-Chain by 96%. The goal is to make Beam's blockchain faster, cheaper, and more compatible with other networks.

Beam Nodes: Validator Incentives

Beam will also launch a grant program for validators. While details are limited, this program seeks to attract developers to its network. Validator incentives will strengthen the ecosystem and make Beam's network more secure and scalable.

About Beam

Beam, a gaming subnet created by Merit Circle DAO, has evolved into a full-fledged gaming ecosystem. It provides game builders and players with essential tools, APIs, wallets, bridges, and analytics, all optimized for game-heavy workloads. This ensures low fees and seamless transactions, making it ideal for web3 gaming.

Beam powers on-chain games like Trial Xtreme, Walker World, and Hash Rush, all running on the Avalanche Subnet. The company blends blockchain, gaming, and AI to create new opportunities. By investing in web3, Beam is shaping the future for builders and players. 

For players, Beam offers immersive games with features like play to earn and true ownership of in-game assets. For builders, it provides tools and funding to push gaming innovation further.

What's Next?

With four major projects, Beam is setting the stage for the future. Applications for the web3 gaming accelerator will open in 2025. The AI division is set to release its first research paper. And the blockchain upgrades will make Beam's network faster and cheaper than ever. 

No doubt, Beam Ventures' $150 million fund places Abu Dhabi at the center of the web3 gaming spotlight. With strong local partnerships and a focus on innovation, Beam seeks to pave the way for the next wave of gaming.