Bitkraft Ventures has launched a token fund of $ 75 million to invest in blockchain games and digital entertainment investments.
As VentureBeat reported, the new fund will take a broader approach to investing, from pre-seed startups to early stage companies.
The fund will see investments in cryptocurrency, NFTs and stocks in the blockchain space.
Bitkraft has said it is committed to the convergence of cryptocurrency and gaming and claims it will be a driving force in the emergence of “synthetic reality” – a term the company coined to explain the crossover digital and physical realities.
Invest in the crossroads
Earlier this year, Bitkraft partnered with blockchain consulting firm Delphi Digital to invest in blockchain games. Additionally, the company has hired blockchain game expert Piers Kicks to help it expand and expand into this new industry.
Since the partnership, Bitkraft has led investments for decentralized mobile-focused gaming guild Yield Guild, raising $ 4 million, and Immutable, raising $ 60 million for its NFT platform Immutable X.
“Crypto and blockchain technology is poised to influence and disrupt the digital entertainment and gaming space in profound ways,” said Jens Hilgers, founding general partner of Bitkraft Ventures.
Blockchain technology is poised to profoundly influence and disrupt the digital entertainment and gaming space.
“We launched our US-based Bitkraft Token Fund I to invest exclusively in the intersection of games and blockchain in the early stages with the ability to invest in tokens as an asset class.
“Our Token Fund investment team is led by Piers Kicks and reinforced by a strong strategic partnership with Delphi Digital.
“With six investments already closed, including Yield Guild and Immutable, we plan to invest in around 25 more companies with this fund by the end of 2022.”
Outside of the blockchain space, Bitkraft recently led a seed funding round for a new Los Angeles-based indie game development studio, FuzzyBot, which will develop cooperative games starting with the Nintendo Switch.