Skip to main content

Galaxy Interactive announced it raised an additional $325 million from more than 70 limited-partners for its venture fund focusing on interactive gaming and NFTs.

Sam Englebardt and Richard Kim, who lead the Galaxy Digital Holdings affiliate, said $150 million of the new capital has already been invested or earmarked. Some of the investments include NFT powerhouse Art Blocks, and Republic, which recently launched an NFT music marketplace.

“The prescience Sam and Richard have had with respect to this sector has been uncanny. They were the first people to pound my desk insisting that gaming and digital objects – which weren’t even called ‘NFTs’ yet – would provide the biggest opportunity for blockchain technology to scale and that Galaxy Digital needed to specialize in this space,” said Galaxy Digital Holdings CEO Mike Novogratz. “Fortunately, we listened, as the companies in the portfolio they’ve built and the pipeline they’ve created are going to have a profound impact on both the real and digital worlds.”

Some of Galaxy Interactive’s previous investments include blockchain gaming company Mythical Games, and JJ Abrams’ gaming company Bad Robot Games.

“Today, the implications of that question present themselves everywhere, in so many fascinating ways and through the utilization of revolutionary technologies,” Englebardt said in a statement. “There has never been a better time to focus on the intersection of content, finance and tech, and we're fully dedicated to leading the charge in growing this sector."

The interactive and gaming spaces are becoming increasingly crowded in crypto. Sky Mavis’ Axie Infinitty exploded in popularity this spring and now has more than 1 million active users to go with more than $2 billion in sales. Companies like Electronic Arts have started hiring senior level positions to explore crypto.

Disclosure: Stephen Stirling is a senior reporter for the Street Crypto. He is an NFT artist that uses the platform OpenSea, and holds NFTS from NBA TopShot, Zed.Run, Robotos and Superlative Secret Society currently valued at more than $500 USD.

Galaxy Interactive announced it raised an additional $325 million from more than 70 limited-partners for its venture fund focusing on interactive gaming and NFTs.

Sam Englebardt and Richard Kim, who lead the Galaxy Digital Holdings affiliate, said $150 million of the new capital has already been invested or earmarked. Some of the investments include NFT powerhouse Art Blocks, and Republic, which recently launched an NFT music marketplace.

Member Exclusive

Get Access to Our Exclusive Content