Some of blockchain’s biggest venture firms have spearheaded a new investment fund dedicated to Web 3 gaming, also known as GameFi, potentially opening the door to a highly lucrative industry that sees cryptocurrency and blockchain merging with the traditional gaming sector.

Ventures, Lightspeed Venture Partners, and the derivatives exchange FTX all announced Friday that a GameFi ecosystem fund of $100 million was launched. The funds will be used to invest in gaming studios, technology companies and other projects “at the intersection of blockchain and gaming,” the companies said.