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Former Citigroup Exec Matt Zhang Launches Diversified Crypto Venture Fund Worth $1.5B

Matt Zhang, a former Citigroup executive, has launched a $1.5 billion crypto venture fund called Hivemind Capital Partners. According to a recent announcement, the new firm will operate out of New York.

Hivemind will reportedly channel its operations towards four core strategies. These are trading, yield staking, venture capital investments, and play-to-earn (P2E) gaming. In addition, for the effective rollout of P2E, Hivemind has tapped Sam Peurifoy, a former Goldman Sachs analyst. HivemInd founder Zhang, believes that setting Peurifoy to task in leading the company’s P2E gaming ambit may prove to be the difference maker. This is because Peurifoy wields a lot of influence as a community leader in the most popular crypto play-to-earn game Axie Infinity. 

Peurifoy resigned from his post at Goldman Sachs to pursue a career in the play-to-earn gaming sector. The analyst currently functions in this space using the name ‘Das Kapitalist, ’ which some might see as a reference to Das Kapital, a popular literary publication by eminent German philosopher and political economist Karl Marx.

Hivemind incorporating P2E gaming in its investment portfolio offerings is also a testament to the surging popularity of crypto gaming. Another example of a blockchain gaming startup to receive VC backing in recent times is Avocado. The gaming startup raised $18 million in a recent Series A funding round.

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 30.11.2021

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