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 won’t solely concentrate on fairness funding, however on cryptocurrencies and NFTs too — will spend money on corporations and startups at any stage of growth. The corporate was in a position to receive an funding advisor registration from the Securities and Change 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 at the moment invested primarily in tasks constructing on Ethereum, it might quickly flip to different blockchains. Piers Kicks, who leads Bitkraft’s funding efforts into crypto, mentioned in a press release:
“We undertake a chain-agnostic strategy and assess every mission on a case-by-case foundation. We’re starting to see some thrilling exercise on Solana and can be intently monitoring early gaming tasks in that ecosystem.”
The blockchain-based gaming market is slowly gaining traction, with an increasing number of corporations organising funding funds centered round it. Final month, the funding arm of Huobi Globul launched a $10 million fund that may concentrate on tasks combining DeFi options with gaming (GameFi).