Simon Seojoon Kim, South Korea’s most well-known cryptocurrency investor and an early backer of the ill-fated Luna token, said he hasn’t lost faith in the battered sector and plans to raise a third venture capital fund in the first half of next year.
The head of VC firm Hashed is looking to step up investments in GameFi projects, which make blockchain-based video games allowing players to own assets within them, he said in an interview with Bloomberg News.
Kim made a name for himself as a crypto evangelist and investor in startups like The Sandbox and Sky Mavis, the owner of the Axie Infinity game.
The implosion of TerraUSD and connected token Luna in May was a major blow to Hashed. Kim said he bought 30 million Luna tokens in the project’s early days and lost most of the investment in the crash. That amount of tokens would have been worth as much as $3.6 billion when Luna’s price peaked on April 5. The total market value of Luna coins soared to about $41 billion in early April, a...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...