Galaxy Interactive raises $ 325 million to invest in blockchain art and video games

Invest in digital entertainment

Galaxy Interactive is a division of Galaxy Digital, an investment fund owned by billionaire Mike Novogratz whose objective is to invest in various sectors of activity related to cryptocurrency.

On his Twitter account, the billionaire revealed that Galaxy Interactive has raised $ 325 million to invest in digital entertainment, namely: blockchain-related video games and non-fungible tokens (NFTs).

For this round table, more than 70 new partners answered the call, including institutional investors, endowments, strategic investors and family offices.

The New York-based fund managed by Richard Kim and Sam Englebardt will now have more than $ 650 million in combined assets under management, making it the largest dedicated gaming fund.

โ€œWe are investing in the opportunities that arise as young people go digital en masse. The digital identity they build for themselves is just as important as the real world, โ€said Englebardt

Since its creation in 2018, the company Galaxy Interactive has already invested nearly $ 150 million of its capital in companies such as Mythical Games which develops blockchain video games or even Masterworks which makes it possible to buy part of a work of art. digital art.

Thus, these new funds will be used to invest in interactive sectors that mix content, finance and technology.

Galaxy Digital Founder and CEO Mike Novogratz said Richard Kim and Sam Englebardt saw the potential of the industry early on:

โ€œThey were the first people to insist that games and digital objects – which weren’t even called NFT yet – would offer the greatest opportunity to expand blockchain technology and that Galaxy Digital needed to specialize in. this space. “

๐Ÿ‘‰ To discover – Galaxy Digital buys custody service BitGo for $ 1.2 billion

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About the Author: Anthony Bassetto

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