- The CEO of blockchain venture capital (VC) firm, Kim-Seo Joon, said they would support GameFi projects.
- The blockchain VC firm named Hashed already suffers from the loss of $3.6 billion of LUNA. But still, the firm again stands in support of crypto projects.
The Interest And Investment Of “Hashed”
Kim shares that their firm bought 30 million LUNA (Luna Classic) in the early stage of Terra-Luna. And lost almost 99% of their investment during the Terra Collapse. The loss that the firm sustained was approximately $3.6 million.
On the other hand, the South Korean Media believes that Hashed somewhere rises the price drop of cryptocurrencies. And also liquidated almost 100 billion Korean Won (worth $76 million) some months after the price crash.
According to Kim, “The assets that we invest in are experimental, and we have always kept it a rule not to make any trade recommendations.” He further said the firm has already used half of the 240 Billion Won. And further going to start funding when the remaining fund is deployed.
The interest of the VC firm, Hashed, is towards the projects based on GameFi sectors. GameFi is the play-to-earn blockchain game where the players can earn assets while playing the game.
It should also be noted that Hashed has supported startup projects. Like, The Sandbox and Axie Infinity’s Sky Mavis. Kim added, “In the tech sector, there’s no such thing as a portfolio that guarantees success, and we make our investments with that in mind. We believe in the community’s growth, which has never changed.”
The firm is projected to boost its investment in the GameFi projects. Because the popularity of play-to-earn (P2E) games was coming into the spotlight in 2021. The strong belief of Kim in P2E games enables the users to use digital assets on its platform.
Source: https://www.thecoinrepublic.com/2022/08/04/the-second-phase-of-vc-fund-by-the-south-korean-vc-firm-hashed/