Sfermion Raises $100 Million Funds to Foster the Emergence of Metaverse

Sfermion, the NFT investment firm, has announced that the secondary funding which saw it raise $100 million, was led by a number of prominent cryptocurrency investors. Investing in the round was British billionaire Alan Howard, Gemini co-founders Cameron and Tyler Winklevoss, American entrepreneur Chris Dixon, and Venture Capital VC firm, Digital Currency Group, amongst many others.

Seeing as the preceding round of fund focused solely on NFT investment opportunities, the $100 million Fund II will be used to “accelerate the emergence of an open, decentralized metaverse” using strategic investments.

Ever since Andrew Steinwold founded Sfermion in 2019, the firm has been keen on identifying and investing in emerging projects and technologies. Not only that, it has always sought to also invest in individuals within the NFT space who are actively involved in advancing the development of the ecosystem.

Sfermion has on its list of past investments, many notable names including the likes of industry forerunners OpenSea, alongside SuperRare, Yield Guild Games, and Artblocks to mention but a few.

Speaking on the funding round, one of the participants, Chris Dixon shared his thoughts on the impact that Sfermion could potentially have on the NFT space. He claimed that Sfermion has all it takes to succeed by leveraging Andrew’s vast experience about the NFT markets.

Future of Metaverse

Although, Facebook’s corporate rebranding from a mere social media platform to a metaverse company last week have sparked serious debates. Many in the crypto community remain unsure whether the company can be trusted with regards to immersive virtual technology. This is largely as a result of the company’s previous questionable practices.

Amidst all of the questions, mainstream headlines have continued to remain neutral on the topic. Alexandria Ocasio-Cortez for instance, tweeted her thoughts, even as popular NFT trader, Josh Ong, also shared his opinion.