Blockchain company Hashed, known as one of the victims of Terra’s collapse, plans to launch a new fund focused on investing in GameFi startups. This was announced in an interview by Bloomberg founder Simon Seojun Kim.

The third structure will be put into service in the first half of 2023. By this time, resources in the second fund of 240 billion won (~$180 million) with a similar focus will be exhausted.

The firm is known for its investments in startups called The Sandbox and Sky Mavis, which owns the Axie Infinity game.

In 2021, Hashed participated in the $25 million Terra investment round. At the peak, the valuation of the company’s 30 million project tokens reached $3.5 billion. The top executive confirmed that he held 99% of the position before the collapse.

According to Kim, this coup did not affect her faith in the industry. It has no plans to slow down the pace of investment.

“There is no such thing as a portfolio that guarantees success in the tech industry. We’re getting away from that. We believe in community growth and we never doubted that.” explained.

Kim predicted an increase in the interconnectedness of the virtual gaming world with the real economy. According to him, this will be thanks to NFT – users will be able to claim products they have purchased in applications. The expert added that this could create “a lot of jobs as assets are exchanged between the virtual and real worlds.”

Recall that venture investment in crypto startups fell 31% from April to June, according to Pitchbook estimates.

Andreessen Horowitz previously launched a $600 million fund to invest in games and metadata.

Prior to this, Haun Ventures, led by former a16z general partner Kathy Haun, raised $1.5 billion in two crypto funds with a similar focus.

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