Bitkraft VC launches $75M investment fund for blockchain gaming

October 08, 2021

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Bitkraft VC has launched a $75 million token fund which it will use for investing in digital entertainment and blockchain gaming. According to the E-sports investment platform, the fund will be used to financially boost business start-ups in their early stages. Apart from that, the token fund will also be used in investing in nonfungible tokens (NFTs) and cryptocurrencies.

Meanwhile, in a bid to offer regulated investment opportunities, Bitkraft had earlier received an investment advisor registration from SEC back in June 2021.

Leading the new token fund is Piers Kicks, a founding partner in the investment section of Delphi Digital, a crypto research firm. Kicks partnered with Bitkraft in early 2021 to drive the company’s efforts to invest in NFTs and crypto.

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According to Bitkraft, the fund has already invested in six projects including the likes of Immutable, Yield Guild Games (YGG), Horizon Games, and Alethea AI. In his interview with Cointelegraph, Kicks explained that Alethea and YGG are both direct token investments.

Seeing as it seems that the fund has mainly invested only in start-ups building on the Ethereum blockchain, Kicks also talked about the approach the funding took. He then said that each project was assessed singly. He admitted though that they are starting to see some interesting activity on Solana, and promised to keep monitoring early gaming projects in that ecosystem as well.

More Investments Coming — Bitkraft Ventures Founding General Partner

According to Jens Hilgers, Bitkraft ventures founding general partner, the fund is still looking to invest in no less than 25 more companies by 2022 ending. As at October 1, the venture capital firm has over $540 million stacked up in assets under management.

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The gaming industry is definitely showing signs of being ripe enough for crypto adoption. In fact, so many new use cases for decentralized finance (DeFi) and NFTs are being seen or heard on a daily. Recall that Blockchain game Axie Infinity, arguably one of the most popular Ethereum-based NFT games this year, has its native token AXS reaching a new all-time high above $155 on Monday.