Esports, gaming and interactive media funding platform Bitkraft VC has established a $75-million token fund for investing in blockchain gaming and digital leisure.
The fund makes use of a “stage-agnostic” technique, that means that it’s going to put cash in corporations and startups at any enterprise improvement stage. Aside from fairness funding, the token fund can even put money into cryptocurrencies and nonfungible tokens (NFT).
So as to present regulated funding alternatives, Bitkraft received an funding advisor registration from the US Securities and Change Fee in June 2021.
The brand new token fund is led by Piers Kicks, a founding associate within the funding arm of crypto research firm Delphi Digital. Kicks joined Bitkraft earlier this 12 months to steer the corporate’s funding efforts in crypto and NFTs.
Bitkraft acknowledged that the fund has already closed six investments, together with initiatives equivalent to Yield Guild Video games (YGG), Immutable, Alethea AI and Horizon Video games. Each YGG and Alethea are direct token investments, Kicks instructed Cointelegraph. “We had been solely capable of announce the funding after remaining closing however have been actively deploying from it,” he added.
Whereas the fund has primarily invested in startups constructing on the Ethereum blockchain, Kicks acknowledged, “We undertake a chain-agnostic strategy and assess every mission on a case-by-case foundation. We’re starting to see some thrilling exercise on Solana and will probably be carefully monitoring early gaming initiatives in that ecosystem.”
In keeping with Bitkraft Ventures founding basic associate Jens Hilgers, the fund is trying to have invested in about 25 extra corporations by the tip of 2022. The enterprise capital agency has greater than $540 million in belongings underneath administration as of Oct. 1, 2021, with a portfolio spanning greater than 60 corporations throughout North America, Europe and Asia.
The gaming trade has proved ripe for crypto adoption, with many new use instances for decentralized finance (DeFi) and NFTs. Blockchain recreation Axie Infinity has emerged as one of the well-liked Ethereum-based NFT video games this 12 months, with its native token AXS reaching a brand new all-time excessive above $155 on Monday. In September, blockchain gamification platform DeFi Land raised $4.1 million to launch a brand new DeFi recreation on Solana.