Home News Bitkraft Ventures launches $75M fund for blockchain gaming

Bitkraft Ventures launches $75M fund for blockchain gaming

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The Berlin-based platform for gaming Bitkraft Ventures has raised $75 million in a fund that will invest in blockchain-related games and digital entertainment startups. Venture Beat writes about this.

Thus, financing will be provided to firms at any stage of development. Both in the form of the sale of shares and tokens.

In June, Bitkraft Ventures registered with the U.S. Securities and Exchange Commission (SEC) as an investment advisor. Delphi Digital head of gaming Piers Kicks will lead Bitkraft Token Fund I.

GameFi projects

Previously, the structure has already invested in six projects, including Yield Guild Games, Immutable, Alethea AI and Horizon Games. According to Bitkraft Ventures partner Jens Hilgers, by the end of 2022, “Bitkraft Token Fund I” will provide financing to 25 more startups, including those working in the Solana network.

As of October 1, Bitkraft Ventures’ assets under management (AUM) were $540 million. Moreover, the portfolio covered over 60 startups from North America, Europe and Asia.

Recall that the investment division of Huobi Group has launched a $10 million fund to invest in GameFi projects. As part of the program, Huobi Ventures supports blockchain-based gaming startups, including technical, marketing and PR assistance, as well as financial and legal advice.

The NFT game Axie Infinity

Earlier, the developers of the NFT game Axie Infinity raised $152 million from a16z and Paradigm. The startup’s valuation reached $3 billion.

Sky Mavis will direct funds to expand the team and scale the infrastructure. Investments will also be used to create the Mavis Hub platform to support developers of blockchain games based on the Ronin sidechain for Ethereum.

“We are creating economic freedom for gamers by turning them into owners of gaming assets. This distinguishes us from the traditional model, when publishers, distribution platforms and developers retain control and get the maximum benefit”. Explained Sky Mavis founder and CEO Trung Ngyen.

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