
Mechanism Capital
FreeWeb3 VC Firms
Mechanism Capital is a VC firm investing in blockchain-based, play-to-earn games.

Web3 VC Firms
Mechanism Capital is a VC firm investing in blockchain-based, play-to-earn games.
Mechanism Capital was founded in August 2020 with a focus on decentralized finance (DeFi).
It later pivoted to blockchain-based gaming after a string of successful investments, including the metaverse platform Star Atlas, the play-to-earn Ember Sword, and Yield Guild Games.
The firm’s latest partner, Steve Cho, sees mobile gaming as the industry’s next big growth area.
Cho joined Mechanism Capital from Apple, where he led the App Store to better understand NFTs and blockchain gaming.
A long essay on how markets form when listing is permissionless, and what a million simultaneous markets does to price.
Why most onchain games failed and what the fund thinks has to be true for one to work.
A memo published in full, useful for seeing how a crypto fund reasons about a bet outside crypto.
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