Blockchain firm Hashed, one of the victims of the collapse of the Terra ecosystem, intends to launch a new fund focused on investments in GameFi startups, the company’s founder Simon Seojoon Kim has told Bloomberg.
According to him, the structure will be launched in the first half of next year. At that time, resources will be exhausted in the second 240 billion won (about $180 million) fund with a similar focus.
The firm is known for its investments in startups The Sandbox and Sky Mavis, owner of the Axie Infinity game.
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Hashed took part in a $25 million Terra investment round last year. At its peak, the valuation of the 30 million tokens of projects owned by the company reached $3.5 billion.
Kim has explained:
"In the technology sector, there is no such thing as a portfolio that guarantees success in the tech industry. We’re getting away from that. We believe in community growth and we never doubted that."