9 hours ago · 2 min read
A roster of major league gaming VCs contributes $6 million to BlackPool
BlackPool on-boarded a league of all-star gaming investors and attracted $6 million.
BlackPool, the first decentralised autonomous organisation (DAO) built exclusively for NFT gaming and trading, recently announced securing $6 million in funding led by DIGITAL.
DIGITAL was joined by Bitkraft, Delphi Digital, Play Ventures, Backed and Cherry Ventures, while existing contributor Fabric Ventures doubled down on their commitment to the DAO.
Taking on the NFT gaming world
$6 million capital injection will support the DAO on its mission to “democratize access to the most sophisticated and profitable assets and strategies in crypto”.
🚨 BREAKING NEWS 🚨🦍 We are thrilled to continue our series of announcements with some massive news: BlackPool secured a sweet $6M contribution from all-star gaming VCs !🔥 Join us and let's build the future together! 🚀#NFTs #playtoearn #Metaverse https://t.co/pd8pcGMH8k
— BlackPool (@BlackpoolHQ) December 9, 2021
DIGITAL, owners of Galadriel–one of only 3 quad mystic Axies in existence, focus on investing in metaverse.
“Over the coming decade, there are going to be numerous yield-generating verticals within the NFT ecosystem. The most talented managers should be empowered with the capital and tools required to succeed. Between our deep history as NFT collectors, and understanding of best practices from the hedge fund world, contributing to BlackPool was a no brainer,” according to DIGITAL.
Other investors in the roster were among the first supporters of blockchain games, such as Axie Infinity, Sorare, and Gods Unchained.
“It is exciting to have these new partners on-board with BlackPool’s vision. They bring diverse gaming and investing experiences and with this additional capital, the DAO will be able to accelerate its growth to support more games, attract more leading managers, and much more… back to building,” said Julien Bouteloup, core contributor of BlackPool, StakeDAO, Rekt and Curve.
Becoming the largest economic actor of the metaverse
BlackPool is the world’s first quantitative NFT hedge fund, which, similar to how traditional hedge funds allow contribution in USD, allows contribution in ETH.
Its governance token, BPT, can be staked in return for xBPT–which represents participation in the shared community ownership of blue-chip NFTs.
The DAO is the largest economic actor in Sorare–with $12 million in assets, and one of the larger guilds in Axie–with 3000 Axies and more than 100 land parcels.
“BlackPool is the ideal partner to create value across the 1000s of economies that will rise in the metaverse”– according to Max Mersch, Partner at Fabric Ventures.
Mersch believes that “it is no longer enough for funds to just invest into the equity of gaming companies–they must now also facilitate the deployment of both financial and human capital into the virtual worlds they are backing.”