Founded in August 2020 with a focus on decentralized finance (Defi), Mechanism Capital pivoted to blockchain-based gaming following a slew of home-run investments in the sector, including metaverse platform Star Atlas, play-to-earn Ember Sword, and guild giant Yield Guild Games. The firm's latest partner, Steve Cho, sees mobile gaming as the industry's next big growth area. Cho comes to Mechanism Capital from Apple, where he led the App Store "to better understand NFTs and blockchain gaming."