- The fund aims to promote and push for wider adoption of digital assets
- Nexo is betting on the role of blockchain tech in the future of finance
Switzerland-headquartered digital asset firm Nexo has today announced the launch of Nexo Ventures, an investment arm that will help it interact with Web3 start-ups and institutional projects in areas including NFTs, blockchain gaming, decentralised finance, payments and trading infrastructure, crypto applications, and compliance solutions.
Investors to captain the fund's inaugural release include Texture Capital, Bware Labs, Mizar, Yield Protocol, Qredo, BlockFills, and 1inch.
Crypto adoption is the principal focus
Via this launch, the firm aims to push for the continued adoption of crypto assets, with the belief that blockchain tech will have a critical role to play in the future of finance.
"We believe that blockchain technology will transform the way we connect and use financial services. Our mission is to elevate entrepreneurs who help push the crypto revolution forward. Nexo Ventures aims to drive the continued adoption of digital assets and the expansion of the Web3 ecosystem," Tatiana Metodieva, the head of corporate finance and investments, remarked.
Metodieva added that being from a crypto-native firm, the proposed product is at a uniquely advantageous position compared to the usual investment funds.
Nexo Ventures will have access to the wide-ranging expertise in the fintech sector, enjoy integration with the products at the heart of Nexo. It would also gain liquidity from partnering protocols.
"Our investment value proposition differs from most traditional investment funds. We're native to and have a deep understanding of the digital asset industry and technology. We prioritise strategic investments and aim to integrate innovative solutions into Nexo's product ecosystem and across our global market footprint. We explore the feasibility of enabling Nexo's users to invest alongside us, thereby leveraging our capabilities to facilitate investor diversification and wealth maximisation," the charted financial analyst continued.
Last December, Nexo became the first firm to offer users NFT-collateralised loans.
The lending platform launched the initiative in collaboration with hedge fund manager Three Arrows Capital. At launch, the loans were available only to members of the Bored Ape Yacht Club and those who owned CryptoPunks but were to extend into other collections.
In addition to the NFT-backed lending, Nexo also supports loans backed by a myriad of crypto assets, including major ones such as Bitcoin, Ethereum, and Litecoin and for less popular ones such as NEAR and the recently launched APE.