Popular investment fund Sfermion has raised over $100 million from several well-known venture investors for its new NFT and metaverse fund.
According to the company’s press release, the fund will invest in startups that develop and operate decentralized metaverse projects, along with targeting decentralized network protocols, digital items, and VR/AR.
The fund saw investments from several well-known investors, including Chris Dixon, a general partner of the well-known US VC “a16z“; Alan Howard, a billionaire investor; the Winklevoss brothers, a celebrity in the cryptocurrency industry; and DCG, the largest cryptocurrency investment company in the US.
Sfermion’s managing partner Andrew Steinwold, a popular crypto podcaster and analyst, said the fund would invest in the purchase of tokens, NFTs (non-fungible tokens), and equities. In the company’s press release, he noted:
“Having been focused on the NFT markets since 2019, it is incredible to see our thesis play out that NFTs were the key missing piece of technology needed for the metaverse to come to fruition.”
Dubbed as ‘Fund II’, this is the company’s second NFT fund after ‘Fund I’, which mainly focused on direct NFT investments. Sfermon has also invested in several NFT-related companies to date, including OpenSea, SuperRare, Artblocks, Yield Guild Games, Nifty Island, and more.
Growth and projects in Metaverse have expanded ever since Facebook renamed its parent company to “Meta” last week in line with its plans to focus on Metaverse’s business.