Gaming and esports funding platform Bitkraft VC has launched a $75 million funding fund that may concentrate on digital leisure and blockchain gaming, VentureBeat reported on 8 October.
In response to the submit, the brand new Bitkraft fund — which is not going to solely concentrate on fairness funding, however on cryptocurrencies and NFTs too — will put money into corporations and startups at any stage of improvement. The corporate was capable of receive an funding advisor registration from the Securities and Change Fee again in June, enabling it to offer regulated funding alternatives.
Whereas pretty new, the fund has already closed six funding offers, and is supporting initiatives akin to Yield Guild Video games (YGG), Immutable, Alethea AI and Horizon Video games. Whereas the fund has presently invested primarily in initiatives constructing on Ethereum, it might quickly flip to different blockchains. Piers Kicks, who leads Bitkraft’s funding efforts into crypto, stated in an announcement:
“We undertake a chain-agnostic method 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.”
The blockchain-based gaming market is slowly gaining traction, with increasingly more corporations organising funding funds centered round it. Final month, the funding arm of Huobi Globul launched a $10 million fund that may concentrate on initiatives combining DeFi options with gaming (GameFi).