This latest move by the private equity firm demonstrates that traditional investment funds have begun buying Web.3.0 projects as part their investment thesis. The growing interest in a decentralized internet built upon blockchain networks continues to encourage big money to invest in small and medium-sized cryptocurrency firms.
Silver Lake, a tech investment firm with assets in excess of $90 billion, announced that it led the $150 million round of investment for Genesis, an NFT avatar business. The company previously received $100 million investment from Bob Iger, Disney’s former CEO. He now serves as its board member. After the funding round, the company is valued at $1billion, making it one of the most valuable unicorn startups. According to the report, Genesis’ success depends on the purchase of the Metaverse idea. According to the report, Genesis’ success will depend on people buying the idea of the Metaverse. As it diversifies its investments in crypto-oriented assets, Silver Lake is showing a growing interest to digital asset firms. Fanatics, a private equity firm, owns NFT sports collectibles company Candy Digital and Alchemy, a blockchain infrastructure company valued at $10.2 million after the latest funding round.
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