Galaxy Interactive from Novogratz collects $ 325 million for blockchain-based games

Galaxy Interactive from Novogratz collects $ 325 million for blockchain-based games

Galaxy Interactive - The subsidiary of Galaxy Digital Holdings Ltd. -has completed a funding round of $ 325 million in order to further expand into the digital area. More than 70 LPs took part in the event, including institutional investors, foundations, strategic investors and family offices.

young people switch from physical to the digital world

according to a current Announcement , almost $ 150 million of the $ 325 million have already been invested in new companies that will complement the existing portfolio of Galaxy Interactive with over 60 interactive companies. This list includes Mythical Games, Immutable, Stockx, Genvid, Greenpark, Current and Bad Robot Games.

The current finance round was devoted to blockchain-based games and artificial intelligence. In this sense, one of the founders of Galaxy Interactive - Sam Englubardt - outlined that younger generations have already started to "switch from physical to the digital world".

"There has never been a better time to concentrate on the interface of content, finance and technology, and we are completely careful to take responsibility for the growth of this sector," he added.

Mike Novogratz - Chief Executive Officer from Galaxy Digital - also commented on this topic and indicated that the executives of Galaxy Interactive could see the advantages of the industry in their early days:

"They were the first people to hammer on my desk and insisted that games and digital objects-which were not even called" NFTS "-would offer the greatest chance of scaling blockchain technology and that Galaxy Digitally had to specialize in this area."

Galaxy Interactive is a business area of ​​Galaxy Digital. It was founded in 2018 and is a phase-independent venture fund that focuses on companies that work at the interface of content, finance and technology.

The crypto efforts of Galaxy Digital

At the beginning of this year the company der Crypto custody Bitgo as an aggregated transaction value was around $ 1.2 billion based on the Galaxy Digital share price in early May.

In August the company of Mike Novogratz stored with the SEC to obtain approval for a Bitcoin ETF. Interestingly, this was the second attempt. While Galaxy Digital was looking for the green light in April with the more traditional path according to the 1933 security law, this time it followed a different approach - according to the 1940.

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