Galaxy Interactive raises another $ 325 million fund for Metaverse and next-gen games and powers immersive internet.
Galaxy Interactive is a venture capitalist focused on next generation interactive technologies. The company has now announced that it has received $ 325 million from 70 different investors. The capital will primarily flow into metaverse applications and blockchain gaming. It is Galaxy Interactive’s second major fund. The fresh capital will primarily flow into Metaverse applications and blockchain gaming.
In a Message from Tuesday announced Galaxy Digital, the majority owner of Galaxy Interactive, details of the use. US $ 150 million from the fund has already been awarded to new portfolio companies. These include Republic, 1047 Games, Elodie, Roar, Art Blocks and Masterworks. Further investments are to follow in the coming months.
Galaxy Interactive sees immersive internet coming
Galaxy Interactive Co-Founder Sam Englebardt describes the interactive sector as “the intersection of content, finance and technology”. He believes the area will see significant growth. The company primarily focuses on digital collectibles and building a metaverse. Englebardt and his partner Richard Kim believe that digital ownership via non-fungible tokens (NFT) is a cornerstone for a more immersive version of the Internet.
The sector is indeed growing strongly at the moment. Bitkraft Ventures, one of the largest investors in gaming and eSports startups, launched a $ 75 million token fund earlier this month. Blockchain gaming and digital entertainment are also in focus here. Even CO₂-neutral gaming is now an issue for Bitkraft.