Blockchain News

Bitkraft Launches $75 Mln Blockchain Gaming Investment Fund.

Six different initiatives have already received funding from Bitkraft’s new $75 million token funds. Bitkraft VC, an investment platform for esports, gaming, and interactive media, has launched a $75 million token fund to invest in blockchain gaming and digital entertainment.

The fund has a “stage-agnostic” strategy, which means it will invest in businesses and startups at any stage of growth.

The token fund will invest in cryptocurrencies and nonfungible tokens in addition to equities (NFT).

Bitkraft acquired an investment adviser registration from the US Securities and Exchange Commission in June 202 in order to provide regulated investment options.

Piers Kicks, a founding partner in the investing arm of crypto research firm Delphi Digital, is in charge of the new token fund.

Kicks joined Bitkraft early this year to oversee the company’s crypto and NFT investments.

The fund has already closed six investments, including Yield Guild Games (YGG), Immutable, Alethea AI, and Horizon Games, according to Bitkraft. Kicks told Cointelegraph that both YGG and Alethea are direct token investments.

“We follow a chain-agnostic approach and analyze each initiative on a case-by-case basis,” Kicks said, despite the fact that the fund has mostly invested in businesses based on the Ethereum blockchain.

We’re starting to see some interesting activity on Solana, and we’ll be keeping a close eye on the ecosystem’s early gaming initiatives.”

By the end of 2022, Bitkraft Ventures’ founding general partner Jens Hilgers expects the fund to have invested in roughly 25 more startups.

As of Oct. 1, 2021, the venture capital company has more than $540 million in assets under management, with a portfolio of more than 60 firms across North America, Europe, and Asia.

The gaming industry has demonstrated that it is ready for crypto adoption with numerous innovative use cases for decentralized financing (DeFi) and non-fungible tokens (NFTs). Axie Infinity, a blockchain game built on Ethereum, has become one of the most popular NFT games this year, with its native token AXS reaching a new all-time high above $155 on Monday.

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