Bitkraft VC Unveils $75mln Fund Focused on Blockchain Gaming October 8, 2021 October 8, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 8, 2021 by Kelly Cromley

Bitkraft VC Unveils $75mln Fund Focused on Blockchain Gaming

Bitkraft VC, an e-sports, gaming, and interactive entertainment investment framework, has launched a $75 million token fund to participate in blockchain gaming and digital leisure. The fund has a “stage-agnostic” approach, implying it will invest in businesses and startups at any stage of development.

Aside from equities, the token fund will buy cryptocurrencies and nonfungible tokens (NFTs). Bitkraft obtained an investment adviser registration from the United States Securities and Exchange Commission in June 2021 with a plan of offering regulated investment options.

Piers Kicks, a founding partner of Delphi Digital’s investment division, is in charge of the aforesaid token fund. Kicks was roped in by Bitkraft early this year to oversee the firm’s cryptocurrency and NFT investing activities.

According to Bitkraft, the fund has so far completed six investments, namely Yield Guild Games (YGG), Immutable, Alethea AI, and Horizon Games.

Kicks revealed that YGG and Alethea are both straight token investments. “We were only allowed to disclose the money after the final closure,” he said, “but we have been aggressively implementing it.”

While the fund has mostly invested in companies based on Ethereum blockchain, Kicks said that “we take a chain-agnostic strategy and evaluate each initiative on a particular instance basis.”

“We’re starting to see some interesting developments on Solana, and we’ll be keeping a close eye on the early gaming initiatives in that platform.” As per Jens Hilgers, Bitkraft Ventures’ founding general partner, the fund plans to acquire a stake roughly 25 additional businesses by the end of next year.

As of October 1, 2021, the venture capital company had over $540 million in assets under administration, with a portfolio that included over 60 firms from North America, Europe, and Asia. With numerous novel use cases for decentralized finance (DeFi) and NFTs, the gaming sector has shown to be ready for cryptocurrency adoption.

Axie Infinity, a blockchain game, has become one of the renowned Ethereum-based NFT games in 2021, with its native token AXS hitting a fresh all-time peak of over $155 on Monday. DeFi Land, a blockchain gaming platform, received $4.1 million in September to roll out a fresh DeFi game on Solana.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.