Galaxy Interactive, a division of Galaxy Digital Holdings and a VC firm focused on gaming startups and interactive technology, has raised US$325 million to invest in blue chip NFTs.
Galaxy Digital announced the fundraising on October 19, stating that the capital will go to Galaxy Interactive’s second fund, combining a total of US$650 million in assets under management.
According to the statement, Galaxy Interactive has already allocated US$150 million to new companies, including 1047 games, Republic, Art Blocks, and Elodie.
Younger Generation Moving En Masse From Physical to Digital World
Galaxy Interactive was established in 2018 by general partners Sam Englebardt and Richard Kim. The fund, which is now more flexible for investors, aims to appeal to a wider demographic of investors, especially in the knowledge that younger generations are moving from the physical to the digital world as technology innovation grows exponentially.
What would you invest in if you believe that younger generations are moving en masse from the physical to the digital world? Today, the implications of that question present themselves everywhere, in so many fascinating ways and through the utilisation of revolutionary technologies.Sam Englebardt, partner, Galaxy Interactive
More Capital Flocking to NFTs and the Metaverse
A lot of money is swirling around NFT projects and the Metaverse, which could host a new way of interaction and trade with people in a global virtual reality world.
The P2E (Play-To-Earn) movement has generated massive profits in 2021, with titles such as Axie Infinity frontrunners in the space.
While most blockchain-based games are built on Ethereum, other projects have taken to Solana to compete in an alternate ecosystem. These include Star Atlas, Aurory, and Genopets – three titles gaining the attention of gamers and investors alike.
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