Newly launched cryptocurrency firm Meta4 Fund Management (Meta4) announced a bold fund seeking to invest in the ever-growing cryptocurrency space.
The Meta4 NFT Fund aims to collect $100 million through a partnership with Andreessen Horowitz operating as the lead investor. As AfroTech previously told you, non-fungible tokens (NFTs) are a “one-of-a-kind trading card” useful for establishing ownership of photos, videos and digital files through blockchain technology.
“NFTs are more than just pixels. It’s the intersection of culture, technology, and finance. It represents a new way of thinking about the ways in which ‘value’ is accrued, harnessed, and distributed,” said Brandon Buchanan, managing partner of Meta4 Fund Management, according to Reuters.
The Meta4 Capital fund was an initiative to purchase digital land and collectives and participate in the trading of NFTs. The fund garnered over 31 NFTs and also marked the foreshadowing of a future partnership with Andreessen Horowitz, whose general partners Chris Dixon and Marc Andreessen placed an undisclosed investment toward the pilot fund.
The partnership is predicted to be quite successful following the success of Andreessen Horowitz’s crypto funds dating back to 2018. One of the funds raised an impressive $2.2 billion just this past year, which has circulated to back crypto investments.
The company credited their growing interests in NFTs as a push to become more innovative.
“Sometimes new managers have a particular perspective or a particular capability. And so as we are thinking about entering a new space, we like to have exposure in a few different ways,” said Arianna Simpson, the general partner focusing on crypto investments, according to Reuters.
As cryptocurrency continues to be the backbone of digital ownership, hopefully we continue to see more companies looking to partner as they venture into the homeland of NFTs.