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VentureBeat
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Bitkraft doubles down on Web3 games with added leaders
- Bitkraft Ventures has added new leaders to focus on Web3 gaming investments, promoting Carlos Pereira and Jonathan Huang to key positions.
- Matt Halstead, a former director at Texas Teachers, has also joined as a venture partner to enhance Web3 investment strategies.
- Bitkraft has backed key players in Web3 gaming like Immutable, Eve Frontier, Karate Combat, and Mira, asserting its commitment to blockchain in gaming.
- Despite challenges, Bitkraft believes in the potential of blockchain in redefining gaming experiences and monetization strategies.
- Bitkraft's data suggests that their portfolio companies with tokens contribute significantly to the overall market cap in the category.
- The firm acknowledges the slow progress and emerging quality in Web3 games, highlighting investments in successful ventures like Boxed, Cambria, Karate Combat, Mythical, and Gunzilla.
- Huang brings expertise in Web2 and Web3 investments from Asia, further strengthening Bitkraft's presence in the region.
- Halstead's background in traditional asset management and crypto investments signifies growing institutional interest in Web3 gaming.
- Bitkraft's focus on Web3 gaming has led to significant growth, reaching $1 billion in assets under management and expanding globally, with a new presence in India.
- The leaders at Bitkraft express confidence in the potential of Web3, emphasizing its transformative impact on digital entertainment and economic models.
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