• Bitkraft Venture Capital has launched a $75 million investment fund for blockchain gaming

  • Bitkraft’s new $75 million token fund has already made six investments in various projects.

    Bitkraft VC, an esports, gaming, and interactive media investment platform, has launched a $75 million token fund to invest in blockchain gaming and digital entertainment.

    The fund employs a “stage-agnostic” strategy, which means it will invest in companies and startups at any stage of development. Aside from equity, the token fund will invest in cryptocurrencies and nonfungible tokens (NFT).

    Bitkraft received an investment advisor registration from the United States Securities and Exchange Commission in June 2021 in order to provide regulated investment opportunities.

    Piers Kicks, a founding partner in Delphi Digital’s investment arm, is in charge of the new token fund. Kicks joined Bitkraft earlier this year to lead the company’s crypto and NFT investment efforts.

    According to Bitkraft, the fund has already closed six investments, including Yield Guild Games (YGG), Immutable, Alethea AI, and Horizon Games. Kicks told Cointelegraph that YGG and Alethea are both direct token investments. “We were only able to announce the funding after the final closing,” he added, “but we have been actively deploying from it.”

    While the fund has primarily invested in startups based on the Ethereum blockchain, Kicks stated that “we take a chain-agnostic approach and evaluate each project on a case-by-case basis.” We’re starting to see some exciting activity on Solana, and we’ll be keeping a close eye on the early gaming projects in that ecosystem.”

    According to Bitkraft Ventures’ founding general partner Jens Hilgers, the fund plans to invest in approximately 25 more companies by the end of 2022. As of Oct. 1, 2021, the venture capital firm had more than $540 million in assets under management, with a portfolio that included more than 60 companies from North America, Europe, and Asia.

    With many new use cases for decentralized finance (DeFi) and NFTs, the gaming industry has proven to be ripe for crypto adoption. Axie Infinity, a blockchain game, has become one of the most popular Ethereum-based NFT games this year, with its native token AXS reaching a new all-time high above $155 on Monday. DeFi Land, a blockchain gamification platform, raised $4.1 million in September to launch a new DeFi game on Solana.

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