- Sfermion has raised $100M from crypto investors like Alan Howard, Chris Dixon etc.
- The company has invested in over 40 NFT related companies to date.
Sfermion, an investment firm highly focused on the non-fungible token (NFT) ecosystem, has raised a $100M venture fund. The fund is dubbed as “Fund II.”
According to the announcement the Fund II was raised by high-profile crypto investors like Alan Howard, Chris Dixon, Marc Andreessen, Cameron, CMT digital, Tyler Winklevoss, and Digital Currency Group among others.
Fund II will build a robust portfolio of investment that underpin the development of the metaverse. Sfermion said its mission is “to accelerate the emergence of an open, decentralized metaverse by investing in the infrastructure that are the building blocks of our digital future.”
Fund II follows the success of Sfermion’s first NFT-focused fund, Fund I, which primarily focuses on direct NFT investment.
“NFTs are transforming digital experiences and creating new investment opportunities across a variety of decentralized marketplaces,” said Chris Dixon, general partner at Andreessen Horowitz. “Sferminon is well-positioned to succeed by leveraging Andrew’s deep experience and insightful perspective on the NFT markets.”
The company has invested in over 40 NFT related companies including Artblocks, OpenSea, SuperRare, and others. According to the report by blockchain analytics firm DappRadar, trading in NFTs climbed to $10.7B in Q3 of 2021, an increase of over 700% from the previous quarter.
Last week, Facebook also changed its company name to Meta. Facebook CEO Mark Zuckerberg said he aims to see millions of users in the metaverse a decade from now. He disclosed the name “Meta” during the company virtual reality and augmented reality conference Facebook Connect.