Galaxy Interactive, a division of Galaxy Digital, plans to enter the blockchain-based games and artificial intelligence industries after a $325 million fundraising round. The CEO of the company, Mike Novogratz, said that after Bitcoin and altcoin projects, he realized the advantages of the industry in the first days. Here are the details…
Young people move from the physical world to the meta world
Galaxy Interactive, a subsidiary of Galaxy Digital Holdings Ltd., has completed a $325 million funding round to further expand into the digital space. More than 70 business partners attended the event, including institutional investors, donations, strategic investors and family offices.
According to a recent announcement, about $150 million of the $325 million has already been invested in startups that will join Galaxy Interactive’s existing portfolio of more than 60 interactive firms. This list includes Mythical Games, Immutable, StockX, Genvid, GreenPark, Current and Bad Robot Games.
In turn, the current funding round is dedicated to Blockchain-based games and artificial intelligence. On that note, Sam Englebardt, co-founder of Galaxy Interactive, stated that younger generations are beginning to “transfer en masse from the physical world to the digital world”:
There has never been a better time to focus on the intersection of content, finance and technology, and we are fully committed to leading the charge of growing this industry.
Bitcoin and altcoin hunter is now in the virtual world
Mike Novogratz, CEO of Galaxy Digital, also focused on the subject and stated that Galaxy Interactive’s leaders were able to realize the advantages of the industry in its early days:
They were the first people to fill my desk insisting that gaming and digital objects not yet called “NFT” will provide the greatest opportunity for blockchain technology to scale, and that Galaxy Digital should specialize in this area.
Galaxy Interactive is a division of Galaxy Digital. Founded in 2018, it is a progressive venture fund focused on companies operating at the intersection of content, finance and technology.
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