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Cryptocurrency research and venture firm Delphi Digital has launched an “on-chain” fund to invest in non-fungible token (NFT) projects.
The fund, called Delphi InfiNFT, is based on the Syndicate decentralized investment protocol. The O-chain is built using smart contracts and will operate on top of the protocol. Anil Lulla, co-founder and COO of Delphi Digital, told The Block.
“The protocol will allow automation of deposits, limit tables, distribution, fund management, reporting, etc. This will also make our investments transparent to others. see.”
Delphi Digital has partnered with NFT investor under the pseudonym Gmoney for the fund, who earlier this year purchased CryptoPunk NFT for $176,000, a record price at the time. Gmoney and Delphi Digital will co-manage the fund.
They want to make a total of about 20 investments through InfiNFT, 3-5 investments per month, average investment 250,000 USD. Targeting projects that are creating NFTs and are building new NFT technology to improve the ecosystem.
InfiNFT is backed by IDEO CoLab Ventures, Calvin Liu of Compound Finance and Divergence Ventures, Jeffrey Zirlin of Axie Infinity, an NFT-based game developer, Andy Chorlian of NFT Fractional protocol, Gabby Dizon of Yield Guild Games, and the others.
According to Lulla, NFTs are here to survive. He told The Block:
“More than just a new revenue stream for creators. They can be used to move the relationship between creators and fans from consumption to collaboration.”
“It’s hard to overstate how much of an impact this will have on society in the long run.”
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