Bitkraft Ventures, one of the biggest investors in the gaming and esports world which has made a name for itself with its investments in the gaming industry, has launched a $75 million token fund to be used in blockchain-based gaming and digital entertainment categories.
Bitkraft Ventures signaled that it would create such a large fund in early 2021. The company announced that it has hired Piers Kicks to strengthen its efforts in the crypto ecosystem. Industry expert Piers, who is closely interested in blockchain technology, has been working as a Crypto Lead under Bitkraft Ventures for about 8 months.
The exclusive fund Bitkraft launched will take a stage-agnostic approach (the type of approach that reviews business plans and financing proposals for companies at any stage of business development). Accordingly, Bitkraft Ventures will invest in everything from the youngest pre-seed startups to later-stage companies. In addition, Bitkraft announced that it will continue its activities as the “Registered Investment Advisor”, as stated by the Securities and Exchange Commission, the agency that oversees securities and exchanges in the United States.
Jens Hilgers, Co-Founder of Bitkraft Ventures, made the following statements:
“Crypto and blockchain technology are set to influence the games and digital entertainment space in a profound way. We have launched our U.S.-based Bitkraft Token Fund I to exclusively invest in the intersection of games and blockchain at the earlier stages with the capability to invest in Tokens as an asset class. Our Token Fund investment team is led by Piers Kicks and empowered by a strong strategic partnership with Delphi Digital. With six investments already closed including Yield Guild and Immutable, we look to invest in about 25 more companies with this Fund by the end of 2022.”
Current investments made under the Token Fund include:
- Yield Guild Games (a decentralized gaming guild of players and investors who generate yields from NFT-based games.)
- Immutable (Allows businesses to build their games, marketplaces or NFT applications with a mainstream user experience within hours via APIs.)
- Alethea AI (A platform that allows users to create a unique, intelligent, GPT-3 powered and interactive version of their digital assets.)
- Horizon Games (A gaming company, and a Web3 wallet and platform for blockchain technology.)
Piers Kicks had the following sentences in a statement he made:
“It brings me enormous excitement that the gaming industry is fast-becoming one of crypto’s most potent areas of application. Novel models like play-to-earn are transforming labor structures and positively impacting lives at scale. Bitkraft, along with our partners at Delphi, are proud to be working with exceptional founders on the front lines of this transition. The blockchain gaming industry as a whole is pioneering new types of economic and game design, the next generation of tooling to add to the developer arsenal, and unprecedented community ownership dynamics that will undoubtedly play a foundational role in the virtual worlds many of us will one day inhabit. By launching our Token Fund, we intend to stay at the forefront of this exciting asset class as it further permeates the interactive media landscape.”