Ikigai Asset Management, a crypto asset management business based in Puerto Rico that manages cash for over 275 investors, said on Tuesday that it had raised $30 million in venture capital.
The investment pool was open to any of Ikigai’s 275 limited-partner investors. The money will go toward the Ikigai Trust Revolution Opportunities fund, which will invest in metaverse startups, blockchain gaming, non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and other web3 efforts.
The fund will also focus on “X-to-earn” game formats like play-to-earn and move-to-earn.
Ikigai chief investment officer Travis Kling declared: “X-to-earn is a trend in the top of the first inning that we believe can be transformative for humanity over the coming decades. We will fund and help build the projects leading to that transformation.”
Framework Ventures, 6th Man Ventures, and other firms have established venture funds for play-to-earn, metaverse, and other web3 projects, and Ikigai’s new fund joins them.