• The Winklevoss twins’ firm, backed by Alan Howard, has closed a $100 million Metaverse fund

  • Last week, Facebook announced a plan to invest billions of dollars in the development of virtual worlds (the so-called Metaverse), as well as a name change to Meta to reflect that ambition.

    Efforts to support decentralized approaches to virtual world development are also gaining traction, as evidenced by the closure of a $100 million fund from a firm backed by Alan Howard, Cameron and Tyler Winklevoss, and others.

    Sfermion, a Chicago-based investment firm, announced the close of its new fund on Monday. The fund will invest in companies operating in the decentralized Metaverse, which uses distributed networks and protocols to underpin the creation and use of digital objects, items, and more. Billionaire Alan Howard, Cameron and Tyler Winklevoss, Bloq’s Matthew Roszak, and a16z’s Chris Dixon have all invested in the new fund.

    Managing partner Andrew Stein stated that the firm would invest through token and equity deals, as well as non-fungible tokens (NFTs). According to him, the fund’s investments will include companies that are developing NFT infrastructure.

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