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Bitkraft Ventures, one of the most significant investors in game and esports startups, launched a $75 million token fund that it will use to place cash into blockchain gaming and digital entertainment investments.
The fund follows news from earlier in the year, exactly where Bitkraft hired Piers Kicks to lead their efforts across the crypto ecosystem. (Kicks will be a speaker at our upcoming GamesBeat Summit Next on line occasion on November 9-10).
The new committed fund will have a stage-agnostic method, which means it will invest in almost everything from the youngest pre-seed startups to later stage providers. It will invest in each tokens (cryptocurrency or nonfungible tokens, or NFTs) and equity across the quick-increasing space. Bitkraft stated it has ensured a robust regulatory setup by becoming a Registered Investment Advisor with the Securities and Exchange Commission.
Berlin-based Bitkraft stated it is more committed than ever to the intersection of crypto and gaming, and believes it will be a important driver in the emergence of synthetic reality, a term coined by Bitkraft to clarify the convergence of the physical and digital worlds. Blockchain has enabled a new digital ownership paradigm and is unlocking new and thrilling user acquisition approaches, organization models, and experiences.
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Bitkraft’s partnership with Delphi Digital, announced earlier in the year, represents a special mixture of experience that positions each firms at the forefront of this new domain.
“Crypto and blockchain technology are set to influence and disrupt the games and digital entertainment space in a profound way. We have launched our U.S.-based Bitkraft Token Fund I to exclusively invest in the intersection of games and blockchain at the earlier stages with the capability to invest in Tokens as an asset class,” stated Jens Hilgers, Bitkraft Ventures founding common companion, in a statement. “Our Token Fund investment team is led by Piers Kicks and empowered by a strong strategic partnership with Delphi Digital. With six investments already closed including Yield Guild and Immutable, we look to invest in about 25 more companies with this Fund by the end of 2022.”
Already, thanks to its other funds, Bitkraft has more than $540 million in assets below management and has constructed a portfolio spanning more than 60 providers across North America, Europe, and Asia, believes the future of asset trading is digital and in-game products and in-game digital assets will broadly move onto the blockchain.
Current investments made below the Token Fund include things like:
- Yield Guild Games, a decentralized gaming guild of players and investors who create yield from NFT-based games.
- Immutable, which tends to make Immutable X — the Layer-2 scalability protocol for NFTs on Ethereum — which supplies the capability for organizations to produce their game, marketplace, or NFT application inside hours by way of APIs, with a mainstream user encounter — no blockchain programming necessary.
- Alethea AI, a platform that enables customers to produce a special, intelligent, GPT-3 powered and interactive version of one’s digital asset.
- Horizon Games, a game business and a Web3 (the blockchain net) wallet and platform for blockchain technologies.
In a statement, Kicks stated, “It brings me enormous excitement that the gaming industry is fast-becoming one of crypto’s most potent areas of application. Novel models like play-to-earn are transforming labor structures and positively impacting lives at scale. Bitkraft, along with our partners at Delphi, are proud to be working with exceptional founders on the front lines of this transition. The blockchain gaming industry as a whole is pioneering new types of economic and game design, the next generation of tooling to add to the developer arsenal, and unprecedented community ownership dynamics that will undoubtedly play a foundational role in the virtual worlds many of us will one day inhabit. By launching our Token Fund, we intend to stay at the forefront of this exciting asset class as it further permeates the interactive media landscape.”
With six investments currently closed (which includes Yield Guild and Immutable) Bitkraft is searching to invest in about 25 more providers with this fund by the finish of 2022.