Esports venture capital company BITKRAFT Ventures has announced a strategic partnership with blockchain advisory firm Delphi Digital to invest in blockchain-based games and assets.
According to the release, the two firms will collaborate to identify ‘the most exciting companies’ at the intersection of blockchain.
BITKRAFT and Delphi will both offer their collective expertise in gaming, esports, digital entertainment, and crypto technology, to portfolio companies. BITKRAFT Ventures will also open its strategy to support investments in tokens as an asset class.
In addition, the partnership expands BITKRAFT’s relationship with Piers Kicks, a venture capitalist at Delphi Digitial. Kicks was hired earlier this year to assist BITKRAFT with its future blockchain strategies. The company says it continues to increase its focus on investments in companies that utilise blockchain technology as well as crypto assets and economics.
Kicks commented: “On the path towards fulfilling BITKRAFT’s vision of synthetic reality, I believe crypto to be an integral building block for the fruition of its truest form. I am thrilled that two companies I respect deeply are working together to explore the new economic, governance, and digital ownership dynamics that are on a clear collision course with the games industry.”
Jens Hilgers, Founding Partner at BITKRAFT Ventures, added: “The breadth of knowledge and experience of the Delphi team in the crypto space is hard to come by. With this strategic partnership, we intend to expand our best-in-class portfolio support capabilities and be smarter and faster when it comes to identifying great entrepreneurs and ideas in the intersection of crypto and gaming. The huge impact of blockchain technology on the games and digital entertainment space is starting to emerge as we speak and BITKRAFT aims to play a significant role in it.”
BITKRAFT’s latest venture follows its $165 million (£118 million) funding round in August 2020, which will be used to invest across esports, gaming, and interactive entertainment.
Delphi Digital CoFounder and COO, Anil Lulla added: “Delphi is enormously excited to formally announce a strategic partnership with BITKRAFT Ventures, who are the leading gaming investors globally. We believe that the combination of BITKRAFT’s deep gaming expertise with Delphi’s renowned crypto-economic competence will be a compelling value proposition for prospective portfolio companies.
“Having already established early momentum in the crypto x gaming sector, we are eager for the coming chapter alongside such a prestigious game investor.”
Esports Insider says: We have certainly seen a lot of crypto-based investments in esports lately, particularly in the form of NFTs. BITKRAFT always seems to have its finger on the pulse of the industry, so this partnership makes sense.