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.
In line with the submit, the brand new Bitkraft fund — which is not going to solely deal with fairness funding, however on cryptocurrencies and NFTs too — will spend money on firms and startups at any stage of growth. The corporate was in a position to receive an funding advisor registration from the Securities and Alternate Fee again in June, enabling it to supply regulated funding alternatives.
Whereas pretty new, the fund has already closed six funding offers, and is supporting tasks similar to Yield Guild Video games (YGG), Immutable, Alethea AI and Horizon Video games. Whereas the fund has presently invested primarily in tasks constructing on Ethereum, it may quickly flip to different blockchains. Piers Kicks, who leads Bitkraft’s funding efforts into crypto, mentioned in an announcement:
“We undertake a chain-agnostic method and assess every undertaking on a case-by-case foundation. We’re starting to see some thrilling exercise on Solana and might be intently monitoring early gaming tasks in that ecosystem.”
The blockchain-based gaming market is slowly gaining traction, with an increasing number of firms establishing funding funds centered round it. Final month, the funding arm of Huobi Globul launched a $10 million fund that may deal with tasks combining DeFi options with gaming (GameFi).