Novogradts Fund invests in a virtual reality project based on a blockade

The investment fund Galaxy Digital will invest $ 20 million in the VR-platform based on the technology of the distributed registry High Fidelity.

In addition to the Mike Novograts fund, Breyer Capital, IDG Capital Partners, Vulcan Capital and Blockchain Capital participated in the project financing. The total investment was $ 70 million.

"Virtual reality can be the first murderous application on the blockbuster. This is a global phenomenon, requiring a mechanism of consensus, not based on trust, for calculations, ownership and identification. All this is offered by the next-generation block-platforms, for example, EOS. And HIGH FIDELITY has a vision, a team and an open platform for leadership in the global translation of atoms into bits of information, "said Sam Anglebart, partner of Galaxy Digital Ventures.

High Fidelity plans to create an open, interactive platform where users can interact with the virtual environment. Investors believe that in the future, with the help of a new VR-site, it will be possible to attend educational institutions, participate in various events and even build their own worlds.

At the end of last year, Novograt planned to open a $ 500 million crypto currency hedge fund, which was to become the largest in the industry. But because of unfavorable market conditions, I decided to postpone my plans.

Then Novograt ignited the idea of creating a crypto currency trading bank. And already in early February, he managed to raise $ 250 million of investment to launch the bank. However, in May, it became known about the next transfer of cryptobank launch.

The date of the opening was not due to the fault of Novogragac. Canadian regulators in May released the company crypto-enthusiast Galaxy Digital LP from providing annual financial reports for the past two years. But they demanded disclosure of audit information for this year, before the company will be allowed to list and trade on the TSX Venture Exchange in Canada.