Griffin Gaming Partners, a venture capital fund for Web3 games, did not respond to a request for comment on why it lowered its target to $500 million for its third flagship fund, about 33% smaller than its previous fund. Griffin Gaming Partners raised $750 million for its second flagship fund in 2022, at the height of venture capital enthusiasm for Web3 and crypto games, but then the FTX bankruptcy caused the market to struggle. So far, Griffin Gaming Partners has invested in several Web3 game studios and infrastructure companies, including game content creation platform Nexus, Web3 game startup platform HyperPlay, Web3 game studio Gallium Studios, chain game developer UnCaged Studios, chain game studio SuperTeam Games, chain game company N3twork Studios, etc., and also led Forte's $180 million Series A financing.