Decentralized fundraising cross-chain platform Poolz has launched a $2 million crypto fund that will enable it to invest in promising non-fungible tokens (NFTs) and blockchain-based gaming projects.
Poolz to Invest in NFTs and Metaverse Projects
The fund will be used to support developers who are into NFTs and metaverse gaming and to eliminate any financial constraints they may encounter while working on their projects, Poolz said in an official release shared with CryptoPotato.
Notably, through the latest funding, Poolz has become a leading Initial DEX Offering (IDO) platform committed to supporting talented NFTs and metaverse gaming developers to help them achieve major feats in their respective niches.
Poolz is also planning to go beyond funding these projects by hosting IDOs on its platform for related projects with high potential for massive growth.
The Explosive Growth of NFTs & Blockchain Gaming
NFTs and blockchain gaming have seen the most growth in the crypto industry since the start of the year. Both sectors have garnered large interest from the mainstream, with non-fungible tokens taking the lead and recording significant capital gains.
Earlier this year, multiple reports suggested that the sale of tokenized digital arts in the first quarter of 2021 attracted over $2 billion, with twice as many buyers and sellers flocking into the sector.
Interestingly, the $2 billion in volume recorded in Q1 did not include Beeple’s “First 5,000 Days” NFT that sold for $69 million in March, and the sector has continued to grow since then.
Similarly, players engaging in metaverse gaming now have the opportunity to own in-game assets that have become highly valuable and are being exchanged across popular exchanges.
With blockchain gaming assets becoming highly valuable in recent times, more investors are seeking new ways to benefit from the price rally.
Based on the rapid growth of NFTs and metaverse gaming lately, Liam Cohen, co-Founder and Chief Marketing Officer at Poolz, stated that the company’s fund is the “next step to bring forward a way to support such projects.”
“We are excited to associate ourselves with these projects and lead the world toward this evolution,” Cohen added.