Cryptocurrency Arca Investment Company Launches New $30 Million NFT Fund

Cryptocurrencies have been getting insanely popularly. It has now come to a point where we can say that the year 2021 was the ‘year of cryptocurrencies’. Many high-end coins as well as meme-coins gained massive traction and saw a rise in prices.

Along with crypto and blockchain craze also came the trend of Non-Fungible Tokens (NFTs). In simple terms, these are digital arts that are owned by a signal individual and the transaction is recorded on a blockchain. All these are modern asset classes and ways of investments.

Recently, asset management firm Arca Investments launched an NFT fund that aims to raise $30 Million. At the time of writing this article, the fund has also raised $11.4 million from 68 investors. Only the existing Arca Limited Partners are eligible to subscribe to the NFT Fund.

• Also Read: Cryptocurrency Firm MoonPay Valued Over $3 Billion After Latest Fund Raising Round

According to CoinDesk, the Chief Marketing Officer of Arca Sumana Maitra said that “We decided to create a standalone vehicle based on the lifecycle of the NFT ecosystem … [that] was mature enough for a fund but still very early.”

The NFT fund will be managed by Sasha Fleyshman and Jeff Dorman will lead it as the Chief Investment Officer.

“The NFT fund focuses on investing in the actual NFTs themselves, many of which have immediate cash flows and yields and unique properties that accrue directly to the token holder,” Maitra said in latest interview with cryptocurrency and fin-tech media firm CoinDesk.

When the CMO of Arca was questioned regarding comparison of the Endeavor Fund to the NFT Fund, Maitra said Endeavor looks at early-stage investments across many sectors, including NFTs and gaming, but will predominantly invest in companies supporting NFT growth via equity and token investments.

The NFT fund will invest the money raised into digital arts, in-game assets, digital property, collectibles, and NFTs.

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