Gaming and esports funding platform Bitkraft VC has launched a $75 million funding fund that may deal with digital leisure and blockchain gaming, VentureBeat reported on 8 October.
Based on the put up, the brand new Bitkraft fund — which won’t solely deal with fairness funding, however on cryptocurrencies and NFTs too — will spend money on corporations and startups at any stage of improvement. The corporate was capable of receive an funding advisor registration from the Securities and Alternate 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 reminiscent of Yield Guild Video games (YGG), Immutable, Alethea AI and Horizon Video games. Whereas the fund has at present 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 challenge on a case-by-case foundation. We’re starting to see some thrilling exercise on Solana and shall be carefully monitoring early gaming initiatives in that ecosystem.”
The blockchain-based gaming market is slowly gaining traction, with increasingly corporations establishing funding funds centered round it. Final month, the funding arm of Huobi Globul launched a $10 million fund that may deal with initiatives combining DeFi options with gaming (GameFi).