Prominent crypto investment fund a16z has led an investment round in Meta4 Capital’s bid to find the rarest NFTs available on the market and help bolster communities.
The fund will invest in an array of NFT projects including digital art and collectables like Bored Ape Yacht Club, metaverse related products like virtual land from The Sandbox and gaming-related NFTs.
Dubbed ‘Meta4 NFT Fund I’, the project is the latest investment product from NFT ‘rare-seekers’ Meta4 Capital. It will focus on buying “rare specimens of non-fungible tokens (NFTs)” from leading collections.
According to Meta4 Capital, the fund launch coincides with the incredible rise of NFTs and their widespread appeal to collectors. To express its conviction in the space, the firm referred to NFTs as “the most interesting, entertaining and lucrative subsection of the cryptocurrency asset class”.
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“It probably won’t come as a surprise that our team is extremely excited about the potential of NFTs to reshape the internet,” she said.
“We think NFTs with rare properties will be a big part of illuminating the composability and functionality of the medium.”
Meta4 Capital was launched earlier in the year with the belief that “NFTs are an example of a more intelligent internet, or Web3”.
To fulfil its belief in the space, it imposed a mandate to purchase an array of rare NFTs and have already bought from various projects including CryptoPunks, Bored Ape Yacht Club, Zed Run and Sandbox among others.
Brandon Buchanan, a fund manager for Meta4 Capital, spoke of the importance and value of NFTs to the industry.
“NFTs are more than just pixels. It’s the intersection of culture, technology and finance,” he said.
“It represents a new way of thinking about the ways in which ‘value’ is accrued, harnessed and distributed. We are witnessing the disintermediation of intellectual property and where things are ultimately headed in web3 as a result of blockchain technology.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.