Delphi Digital, a multi-service cryptocurrency investment, consulting, and research firm, has announced today the launch of “Delphi INFINFT,” a new investment wing focused on NFTs and the NFT ecosystem.<\/p>\n
Per a post of Twitter, the fund will invest upwards of $5 million into \u201cNFT marketplaces, DAOs, social tokens, fractionalization, NFT infrastructure, and any other new developments that may arise during the syndicate’s investment cycle,\u201d and the team will be bolstered by noted NFT collector \u201cgmoney.\u201d<\/p>\n
A NFT-focused fund might not be a surprise, given how the use case has been a bannercarrier bringing blockchain into public consciousness. However, NFT prices can be notoriously volatile and uncorrelated to the wider crypto markets.\u00a0<\/p>\n
Delphi co-founder Yan Liberman told Cointelegraph the company is prepared to weather any downturns, however.<\/p>\n
\u201cOur fund has a very long term focus so the volatility is less of a concern. We actually think of it opportunistically in that it can favorable price entries,\u201d he said.<\/p>\n
Additionally, the company\u2019s investment processes won\u2019t have to change to accommodate the focus on a new asset class.<\/p>\n
\u201cOur investment process is very similar to the one we employ at Delphi Ventures. Begins with heavy due diligence and ends with a firm wide investment committee where we leverage our spectrum of expertise to have an exhaustive discussion about the project and landscape. The investment philosophy is also similar in that we’re looking to support the best founders and ideas with everything Delphi has to offer.\u201d<\/p>\n
The firm\u2019s claim to being the \u201cfirst\u201d on-chain NFT-focused fund did ruffle some pink feathers, however. As multiple members were quick to point out in Delphi\u2019s Twitter thread, Flamingo DAO was the first DAO formed as a NFT investment group, and has been making headlines with high-priced purchases in recent months.<\/p>\n
However, aside from the spat over superlatives, it\u2019s unlikely that there will be competition between the groups. While many of Flamingo DAO\u2019s investments thusfar have been in NFTs directly, INFINFT looks to be focusing on infrastructure, though Liberman notes that \u201cwe plan on investing in both NFT infrastructure and directly into NFTs themselves.\u201d<\/p>\n
Delphi is no stranger to NFTs, having announced an investment in several rare \u201cmystic\u201d Axies, NFT-backed critters from the Axie Infinity game, last year. Liberman told Cointelegraph that they\u2019re excited about not just gaming NFTs, but the broad range of use cases that haven\u2019t even reached production.<\/p>\n
\u201cAxies, and gaming NFT’s in general, are just one subsector of NFTs that we’re incredibly bullish on. We believe the majority of applications haven’t been thought of yet, which is what makes us incredibly excited to launch this fund.\u201d<\/p><\/blockquote>\n