Home News Sfermion raises $100M for NFT and metaverse ventures

Sfermion raises $100M for NFT and metaverse ventures

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An investment firm Sfermion has raised $100 million in secondary funding. Its goal is to accelerate the emergence of a decentralized metaverse by investing in infrastructure, the report says.

Thus, among the strategic investors are billionaire Alan Howard, Cameron and Tyler Winklevoss, Chris Dixon, Marc Andreessen, Matthew Rozhak, Digital Currency Group, CMT Digital and Animoca Brands.

Earlier, Sfermion launched Fund I, which focused on direct investments in the non-fungible token (NFT) sector. The new Fund II “aims to create a reliable investment portfolio that supports the development of the metaverse,” the company said.

The next multi-trillion-dollar industry

“We created this fund based on the notion that NFTs are the trojan horse to crypto mass adoption and the next multi-trillion-dollar industry”. Said Andrew Steinwold, Managing partner of Sfermion.

Moreover, in a comment to The Block, he added that the firm plans to invest through deals with shares and tokens. According to him, the fund will partially focus on projects that create NFT infrastructure.

At the time of writing, Sfermion has invested in more than 40 companies; including OpenSea, SuperRare, Artblock, Nifty Island and Yield Guild Games.

Creating a metaverse

At the end of October, Facebook announced a large-scale rebranding and reorientation of the company to create its own metaverse. Amid this background, the prices of tokens of projects from the GameFi and virtual worlds spheres have increased significantly. From December 1, the company’s shares will start trading under a new MVRS ticker.

In September, Huobi Ventures supported the launch of a fund created by OP Crypto Capital Management. With assets of $25 million with a focus on investments in DeFi, Web 3.0 and metaverses.

Recall that previously in early November, the Hong Kong gaming platform The Sandbox raised $93 million to create a metaverse. SoftBank’s Vision Fund 2 led the round.

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