Bitkraft focuses on taking equity positions in the startups it backs, without discounting the likely benefits of having the beneficiary team token.
Bitkraft, a Venture Capital firm for gaming platforms, eSports, and immersive technology, announced that it has raised $220.6 million to launch its second token pool. According to the filing with the SECthe fund was designated as BITKRAFT Ventures Token Fund II and while it does not contain much information about the investment objective, it did show that the presentation was made on March 30.
Bitkraft remains one of the most dominant venture capital firms serving the gaming world. According to one of the firm’s partners, Carlos Pereira, the company is focused on supporting the founders and projects from seed to Series B.
According to Pereira, the passion that drives the company founded in 2016 by Jens Hilgers is based on the fact that the founders and executives are first and foremost gamers and the passion for the company predates the outbreak of the gaming bull run.
“We are game investors first and foremost, with investment and operating backgrounds that long predate the Web3 games bull run.” saying Pereira. “We are focused on writing great games with the tools we have. Now in crypto, with the experience we have as players, we want to see the economic rails evolve,” he added.
The defined allocations that Bikraft expects to give to developers and innovators for the benefit are not defined, and according to Pereira, the founders who will be favored will be those with above average experiences. This implies that they must have gained significant experience in the larger world of Web 2.0 games.
As part of the investment strategy highlighted by Pereira, the protocols that are most likely to be favored will feature complex gaming environments like those found in the mainstream gaming world.
Bitkraft Advanced Gaming Investment Strategy
According to Pereira, Bitkraft is focused on taking equity positions in the startups it backs, without ruling out the likely benefits of having the beneficiary team token.
“If we own both the capital and the token, we can design a game that maximizes value creation through primary sales and maximizes value creation through secondary sales,” Pereira explained, noting the importance of “discovering a business model that works and allocate that value between equity and tokens.”
In an attempt to reflect Bitkraft’s patience and long-term positioning, the firm’s partner noted that many of the platforms it supports are in the early stages of their development cycle. The company is known as a major investor in Eve Online developer CCP Games, as well as Jungle, a mobile blockchain developer.
Investment in the Web 3.0 gaming ecosystem has not slowed down even with the arrival of crypto winter. Innovators and investors are particularly focusing on this industry as it is tagged as one of the most relatable offshoots that can usher in the next billion users in the ecosystem.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real-life applications of blockchain technology and innovations to drive mainstream acceptance and global integration of emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based sites and media. Benjamin Godfrey is a lover of sports and agriculture.
