via Decentraland

Digital Currency Group, an investment firm focused on the digital currency industry, has announced the creation of Metaverse Ventures, a new VC fund focused entirely on startups building in the Decentraland (MANA) blockchain VR ecosystem.

With the launch of Metaverse Ventures, DCG is making a bet on the future of virtual land. While this might seem silly at first glance, parcels of LAND in Decentraland have recently sold for six figures and a number of blockchain-based games are currently building in the virtual ecosystem.

According to the announcement, Metaverse Ventures has already closed investments in Vegas City, a 7,000 parcel-district that aims to provide virtual real estate for the construction of VR-based entertainment venues, and Artie, an AI-powered platform for content creators to make intelligent and autonomous avatars for AR and VR.

We believe these virtual characters (which you can think of as embodied voice assistants) will be ubiquitous inside the metaverse. We have several other potential investments in the pipeline.

MANA is currently up 0.5% on the day to $0.058635, giving the token a $61.58 million market cap and making it the 60th largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: Introducing Metaverse Ventures
Related: Decentraland to Accept Dai and MKR in the LAND Auction

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.