Sfermion, a US-based non-fungible token (NFT) focused investment firm, has closed its second fund at $100m with backing from blockchain app developer Animoca Labs and trading firm Capital Markets Trading.
The vehicle also counts Digital Currency Group and private investors Alan Howard, Chris Dixon, Marc Andreessen Matthew Roszak and Cameron and Tyler Winklevoss among its limited partners. Capital Markets Trading contributed through its CMT Digital unit.
Unlike its predecessor, which mainly concentrated on direct NFT asset investments, Sfermion Fund II will also target the decentralised metaverse – the digital world where people can meet and interact through various virtual and augmented reality layers.
The firm’s investments in recent months include deals for NFT infrastructure developer ClubNFT, blockchain game studio Sipher and Planetarium, retail-focused NFT technology developer Mojito and metaverse game developer DeHorizon.
Andrew Steinwold, managing partner of Sfermion, said: “Having been focused on the NFT markets since 2019, it is incredible to see our thesis play out that NFTs were the key missing piece of technology needed for the metaverse to come to fruition.
“We created this fund based on the notion that NFTs are the trojan horse to crypto mass adoption and the next multi-trillion-dollar industry.”
