Galaxy

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Immutable

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/high-profile-investors-back-1kxs-new-75-million-crypto-fund" rel="noopener noreferrer nofollow">High-Profile Investors Back 1kx’s New $75 Million Crypto Fund</a><br></p>
<p style="text-align: justify">Prominent venture capitalists like Marc Andreessen and entities such as Galaxy Digital and Accolade Partners have significantly contributed to the most recent fundraising endeavor of <a href="https://en.bitcoinhaber.net/artificial-intelligence-overpowers-bitcoin-in-google-trends-searches" rel="noopener noreferrer nofollow">cryptocurrency</a> venture capital firm 1kx. As per 1kx co-founder Lasse Clausen, renowned tech investor Chris Dixon from Andreessen Horowitz is also involved as one of the limited partners. The firm successfully secured $75 million and is setting its sights on consumer applications based on crypto technology.</p>
<h2 id="new-ventures-in-crypto-consumer-applications">New Ventures in Crypto Consumer Applications</h2>
<p style="text-align: justify">1kx, which commenced operations in 2018 under the leadership of Clausen and Christopher Heymann, has quickly deployed capital from its latest fund into roughly five ventures, though the identities of the companies remain undisclosed. This move aligns with a broader uptrend in institutional interest toward cryptocurrencies, spurred on by the regulatory green light for <a href="https://en.bitcoinhaber.net/bitcoin-breaks-50000-barrier-stirring-excitement-in-crypto-market" rel="noopener noreferrer nofollow">Bitcoin</a> spot exchange-traded funds in the US.</p>
<p style="text-align: justify">Data from PitchBook highlights a 2.5% growth in venture capital funding for crypto firms, totaling $1.9 billion in Q4 of 2023—a rebound from a declining trend since March 2022. Furthermore, February witnessed a surge in investments, indicating a restoration of corporate confidence in blockchain, with several funding announcements coming from the sector, including a notable $100 million investment round into <a href="https://en.bitcoinhaber.net/ethereum-network-celebrates-validator-growth-milestone" rel="noopener noreferrer nofollow">Ethereum</a>‘s EigenLayer, led by Andreessen Horowitz.</p>
<h2 id="investment-frenzy-in-web3-and-blockchain-games">Investment Frenzy in Web3 and Blockchain Games</h2>
<p style="text-align: justify">Avail, a new player in the Web3 realm, announced a hefty $27 million seed funding round in late February. Major contributors included Founder Fund and Dragonfly, aiming to bolster Web3 data availability and consensus protocols. Similarly, the blockchain gaming industry is witnessing significant inflows, with Immutable partnering with King River Capital and Polygon Labs to establish a $100 million fund dedicated to blockchain gaming investments. The Inevitable Games Fund, as it is called, has already earmarked $30 million in its initial round, backing seven blockchain games across the ImmutableX and Polygon platforms.</p>
<p style="text-align: justify">Such investments underscore the growing enthusiasm and financial backing for innovative crypto and blockchain ventures, positioning firms like 1kx at the forefront of this burgeoning market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/high-profile-investors-back-1kxs-new-75-million-crypto-fund" rel="noopener noreferrer nofollow">High-Profile Investors Back 1kx’s New $75 Million Crypto Fund</a></h5>

High-Profile Investors Back 1kx’s New $75 Million Crypto Fund

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