More enterprises are entering the crypto and blockchain market. This time, Japan’s Gumi, which has created mobile games such as Brave Frontier, announced a new 30 million global blockchain and virtual currency investment fund.
Gumi Cryptos New Blockchain Investment Fund
This new fund, that will be called Gumi Cryptos, will be investing in cryptocurrency and blockchain related companies. In this way, it will be participating in a very volatile, but also potentially prosperous market.
The fund will be investing in blockchain and other companies to gain exposure to cryptocurrencies and this revolutionary technology. Its portfolio companies will be able to invest in the Japanese crypto market through an extensive network of investors and an experienced management board.
The individuals in charge of Gumi Cryptos are the founder and CEO of Gumi, known as Hironao Kunimitsu, and Miko Matsumura, founder of the virtual currency exchange Evercoin.
Apparently, the company will be investing in early stage companies and others related to the gaming and crypto industry. Some of the first project that were funded by Gumi Cryptos are Basis, Origin Protocol, Robot Cache, and Pryze.
During and interview, Mr. Matrsumura said:
“We’ll be bringing startups from outside Japan to the Japanese market. We like early stage. We invest in equity tokens. We like financial services. We like game technologies, and we believe there is a strong connection between gaming and crypto.”
Matsumura has been working as an advisor for different initial coin offerings (ICOs) and startups, that include Bee Token, and Celcius Network. In addition to it, he invested in Lyft, FileCoin, Brave, Civic, Basecoin, Propy, and Polymath, among others.
The fund will enable the company to engage with early stage enterprises in the crypto and blockchain industry with the intention to be an effective partner and produce a deep impact in the market.
Moreover, Matsumura explained that cryptocurrency startups from all over the world struggle when they want to enter the Japanese nation – which is the largest cryptocurrency market in the world. Japan was one of the first countries to legalize Bitcoin and had always had a very open policy towards cryptocurrencies.
Furthermore, in the last times, Japan has been creating better regulations to control the market. Some Japanese exchanges have been involved in fraudulent activities, including the famous Mt. Gox hack and the Coincheck exchange stolen.
“The pendulum as you described is swinging toward more regulation,” explained Matsumura. “It is influenced by what has happened, like Mt. Gox. That was wow, cataclysmic. And with Coincheck, you wonder how that could happen after Mt. Gox. The regulators are more active, but in the long run, Japan is embracing the phenomenal growth of cryptocurrency and blockchain.”
About blockchain investment possibilities, Matsumura said that there is a real desire in the market that is unfulfilled, and there is where Gumi Cryptos will be working on.