26/11/2021 Crypto Investment Firm Arca Launches $30M Fund Dedicated to NFTs
The fund opened to investors last week and has raised $11.4 million so far.
Asset management firm Arca has launched a $30 million fund dedicated to non-fungible tokens (NFT), according to anew regulatory filing.
- Arca, which had a total of $500 million in assets under management as of the third quarter, began accepting investments in the Arca NFT Fund on Nov. 15 and has so far raised $11.4 million from 68 inventors toward its total $30 million goal.
- Arca tells CoinDesk the fund is only open to existing Arca limited partners (LPs) and is already oversubscribed.
- “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,” Sumana Maitra, Arca’s chief marketing officer, told CoinDesk in an email.
- Sasha Fleyshman is the portfolio manager for the Arca NFT Fund and Jeff Dorman will oversee as CIO.
- Last month, Arca entered the world of early-stage investments with the Endeavor Fund. The fund closed above its $30 million goal and has put money behind Bitwave, Lattice and BlockchainSpace.
- Asked to compare 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 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 told CoinDesk.
- Investment focuses for the Arca NFT Fund will include digital property, in-game assets, art and collectibles and how NFTs interact with decentralized finance (DeFi), to name a few.
- Arca’s NFT fund marks the latest venture capital bet on digital assets. In a research note published last month, Bank of America said VC investments in the sectorsurpassed $17 billionfor the first half of 2021, up from $5.5 billion in the same period last year.
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Interesting NFTs
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Kitty #437170
Good day! Kitty #437170 here. I'm here to enjoy taking selfies and reading garfield. I would give it all up to star in a soap opera. Let's get busy!
Sophia Instantiation
Sophia Instantiation by Sophia the AI robot x Andreas Bonaceto
Source Code for the WWW
OWNER: Sir Tim Berners-Lee
Sir Tim Berners-Lee, b. 1955
Source Code for the WWW
1990-1991
Work includes:
Original archive of dated and time-stamped files containing the source code, written between 3 October 1990 and 24 August 1991. These files contain code with approximately 9,555 lines, the contents of which include implementations of the three languages and protocols invented by Sir Tim; HTML (Hypertext Markup Language); HTTP (Hyper Transfer Protocol); and URIs (Uniform Resource Identifiers), as well as the original HTML documents that instructed early web users on how to use the application
Animated visualization of the code being written (Video, black & white, silent), lasting 30 minutes 25 seconds
A Scalable Vector Graphics (SVG) representation of the full code (A0 841mm wide by 1189 mm high), created by Sir Tim from the original files using Python, with a graphic representation of his physical signature at lower right
A letter written in the README.md file (in “markdown” format) by Sir Tim in June of 2021, reflecting upon the code and his process of creating it
Non-fungible Token ERC-721
Minted on June 15, 2021, ed. 1/1
Smart Contract Address: 0x86ade256037d80d6d42df8df96d5be21cd25bd8f
Really Remote Working Part 3
The third piece is the Really Remote Working series, white sands and turquoise waters make this is a desk space like no other. Created during the lockdown period whilst being confined to the same place every day, this piece is part of a series of imaginary places that I dreamed of being able to work from.