Delphi Digital – a multi-service cryptocurrency investment, advisory, and research firm – announced Friday the launch of “Delphi InfinNFT,” a new investment wing focused on non-fungible tokens and the NFT ecosystem.
According to a post on Twitter, the fund will invest more than $ 5 million in “NFT marketplaces, DAOs, social tokens, fractionation, NFT infrastructure and other new developments that may arise during the syndicate’s investment cycle,” and the team is strengthened by the well-known NFT collector “Gmoney”.
0 / Our team is proud to announce the launch of the world’s first on-chain NFT fund on @SyndicateDAO called “Delphi INFINFT”, operated by our team and @gmoneyNFT
Supporters include @IDEOVC + other NFT pioneers such as @gabusch, @Jihoz_Axie, @AndrewSteinwold etc. https: //t.co/FI8OhDAUh2
– Delphi Digital (@Delphi_Digital) May 14, 2021
An NFT-focused fund may not come as a surprise as the use case was a standard bearer that brought blockchain into the public eye. However, NFT prices can be notoriously volatile and uncorrelated with the broader crypto markets.
Delphi co-founder Yan Liberman told Cointelegraph that the company is poised to weather downturns.
“Our fund has a very long-term focus, so volatility is less of a concern. We actually think opportunistically that it can allow cheap price entry, ”he said.
Additionally, the company’s investment processes don’t need to change to focus on a new asset class.
“Our investment process is very similar to that at Delphi Ventures. Starts with careful due diligence and ends with a company-wide investment committee where we use our expertise to have a full discussion of the project and the landscape. The investment philosophy is also similar in that we aim to support the best founders and ideas with all that Delphi has to offer. “
However, the company’s claim to be the “first” NFT-focused fund in the chain has disheveled some pink feathers. As several members were quick to point out on Delphi’s Twitter thread, Flamingo DAO was the first DAO to be formed as an NFT investment group and has made headlines with high-priced purchases in recent months.
Aside from spitting on superlatives, however, it is unlikely that there will be any competition between the groups. While much of Flamingo DAO’s investments to date have been made directly in NFTs, InfinNFT is focused on infrastructure, although Liberman stated, “We plan to invest in both NFT infrastructure and directly in NFTs themselves.”
Delphi is no stranger to NFTs, having announced an investment in several rare “mystical” Axies last year, NFT-powered animals from the Axie Infinity game. Liberman told Cointelegraph that not only is the fund excited about gaming NFTs, but the wide range of use cases that haven’t even reached production yet.
“Axies and gaming NFTs in general are just one sub-sector of NFTs that we are incredibly optimistic about. We believe that most of the applications have not yet been considered, which is why we are incredibly excited to launch this fund. “