Gaming and esports funding platform Bitkraft VC has launched a $75 million funding fund that can give attention to digital leisure and blockchain gaming, VentureBeat reported on 8 October.
In keeping with the submit, the brand new Bitkraft fund — which won’t solely give attention to fairness funding, however on cryptocurrencies and NFTs too — will spend money on corporations and startups at any stage of improvement. The corporate was in a position to receive an funding advisor registration from the Securities and Trade 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 presently invested primarily in initiatives 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 strategy and assess every undertaking on a case-by-case foundation. We’re starting to see some thrilling exercise on Solana and will likely be intently monitoring early gaming initiatives in that ecosystem.”
The blockchain-based gaming market is slowly gaining traction, with increasingly more corporations establishing funding funds targeted round it. Final month, the funding arm of Huobi Globul launched a $10 million fund that can give attention to initiatives combining DeFi options with gaming (GameFi).