Ikigai Quality Management, a Puerto Rico-based crypto asset management startup that deploys capital for over 275 investors, proclaimed Tuesday that it raised $30 million in venture funding. Ikigai spread out the investment pool to any of its 275 limited-partner investors.
What does Ikigai intend?
The firm intends to use the venture funding for its Ikigai Trust Revolution Opportunities fund, which is intended to speculate in startups or comes involving the metaverse, blockchain gaming, non-fungible tokens (NFTs), and suburbanized autonomous organizations (DAOs) and alternative web3 initiatives.
Another focus of the fund is “X-to-earn” gaming models, corresponding to play-to-earn and move-to-earn.
X-to-earn is trending in the cryptosphere
X-to-earn could be a trend within the height of the primary period of play that we believe is often transformative for humanity over the coming decades. Ikigai chief investment officer Travis Kling aforesaid during a statement. We’ll fund and facilitate the build that results in that transformation. Ikigai’s newest fund joins Framework Ventures, Sixth Man Ventures, and alternative corporations establishing venture funds for play-to-earn, metaverse, and other web3 projects.
Firms are bullish on Web3.0
Elwood Technologies, a crypto firm in hand by Alan Howard, has recently raised $70 million in associate degree passing fundraising spherical. Mathew McDermott, world head of digital assets at anarchist Sachs, aforesaid in an exceeding statement. As institutional demand for cryptocurrency rises, we’ve been actively broadening our market presence and capabilities to cater to shopper demand. To boost investors Goldman and Dawn, the Series A spherical was joined by Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders, and Galaxy Digital Ventures.
The corporation will use the cash to expand its product and grow internationally. Howard, a former executive of the hedge fund Brevan Howard, is Elwood’s majority shareholder. Since late 2020, Howard has been funding heavily inside the crypto sector, baking dozens of startups and fixing businesses. Earlier this year, he launched BH Digital, a crypto-focused division of the hedge fund he founded.
The funding spherical was co-led by anarchist Sachs and Dawn Capital. Elwood might be crypto-focused market access and mercantilism platform serving fintech firms, managers, and completely different institutional investors.