Cryptocurrency investment firm Meta4 Fund Management said it is launching a new non-fungible tokens (NFT)-focused fund with lead investment from Andreessen Horowitz (A16z).
The Meta4 NFT fund is managed by Meta4′s founding partners, Brandon Buchanan and Nabyl Charania, and will invest in rare digital art and collectibles such as the Bored Ape Yacht Club, gaming-related NFTs such as Zed Run and metaverse-related purchases such as virtual land.
A16z has been actively investing in the NFT space. In March, it was the lead investor in a $23 million fundraising round for popular NFT marketplace OpenSea.
NFTs are digital assets that represent a wide range of items, from collectible sports cards to virtual real estate and even digital sneakers. The metaverse is a space generated by the convergence of virtual worlds, augmented reality and internet services.
“NFTs are the driving force behind a new generation of internet products and services that are sharing value directly between the millions of developers, artists, collectors, and even gamers that participate – rather than platforms that simply act as a middleman,” said Arianna Simpson, general partner, A16z Crypto, in a press release. “The Meta4 Capital team has a unique, proven pulse on the NFT market and across the web3 spectrum, and we’re thrilled to partner with them on this new fund.”
Buchanan said Meta4 has witnessed the “disintermediation of intellectual property and where things are ultimately headed in [Web 3] as a result of blockchain technology.”