Bitkraft, a popular name in Esports and blockchain-based gaming investments, has confirmed a $75-million token fund for blockchain gaming. The funds would be invested in six different projects related to blockchain gaming.
The investment firm also revealed that the funds will be used to provide liquidity to projects at any stage of their development process. While the token fund is particularly for blockchain gaming and Esports, it will also be used to invest in cryptocurrencies and nonfungible tokens (NFT).
The fund has reportedly already closed investment rounds with Yield Guild Games (YGG), Immutable, Alethea AI and Horizon Games. Speaking to leading crypto publication Coin Telegraph, Piers Kicks, the fund manager said: “We adopt a chain-agnostic approach and assess each project on a case-by-case basis. We are beginning to see some exciting activity on Solana and will be closely monitoring early gaming projects in that ecosystem.”
Commenting on the future plans, Bitkraft Ventures founding general partner Jens Hilgers, said that they are looking to invest in 25 different business ventures in the blockchain industry by the end of 2022.
Blockchain has fairly revolutionized the multi-billion dollar modern gaming industry. NFTs have become increasingly popular in the crypto gaming industry. Bitkraft is actively eyeing the emerging market.