Former Citigroup CEO Matt Zhang has launched a crypto venture fund worth 1.5 billion dollars called Hivemind Capital Partners, according to a statement released on Monday.
Hivemind, a new crypto investment fund based in New York, will focus on four areas: yield staking, trading, venture capital investing, and play-to-earn (P2E) gaming. Following interest in the latter area, the company has also hired former Goldman Sachs analyst Sam Peurifoy.
Peurifoy resigned from Goldman Sachs to pursue a career in the play-to-earn gaming space under the nickname 'Das Kapitalist'.
According to Zhang, having Peurifoy at the helm of the company's P2E gaming branch is one way the fund can differentiate itself from others in the market. Peurifoy is the community lead at Axie Infinity, the most popular play-to-earn crypto game.
Hivemind's announcement is the latest in a wave of crypto venture capital funds established in 2021. In November, the venture capital firm Paradigm launched its second fund focused on cryptocurrencies worth 2.5 billion dollars.
Incorporating P2E gaming into its investment strategy at Hivemind is also in line with the growing popularity of crypto games. Several blockchain gaming startups have also recently received backing from VC firms, such as Avokado, a blockchain gaming guild that raised 18 million dollars from investors including Solana Ventures earlier in November.
{embed_digitalno_izdanje}{/embed_digitalno_izdanje}
