Interplay to enter Web3 with the new Blockchain Fund

Interplay is set to enter into the Web3 space with a new blockchain fund. The New York-based venture capital firm is raising about $10 million to invest in early-stage startups, tokens, special situations, and other strategies within web3.

interplay-web3-fund

Mark Peter Davis, Interplay’s founder, and managing partner mentioned that Interplay Blockchain will run as a standalone fund distinct from the firm’s venture capital arm, which houses two early-stage funds, a foundry that assists build companies from scratch, an incubator to back existing companies and a family office.

The company’s main venture capital arms formerly backed Coinbase Ventures in a Series A round, while it also set up a crypto-based insurance product. Nonetheless, the current blockchain fund will market Interplay’s inaugural incursion into web3 with a dedicated blockchain fund.

Talking about his firm’s plans for the Web3 space, Davis expresses:

“We have just kept looking at random opportunities that don’t quite fit squarely in the other programs that we’re excited about, and now we have a program to engage them.”

Interplay has managed to get Brett Palatiello, who led systematic macro and equities research at Ridgewood Analytica on board for this new initiative. He will be joined by Interplay partner Kevin Tung and Davis to co-lead Interplay Blockchain Fund I in the latest initiatives.

Palatiello is particularly excited by the possibilities in blockchain interoperability and identity products as sub-segments of the Web3 space.

“If we look at the internet as it is now, think of it as walking through a house with some doors locked and you get to open them. I envision the metaverse as being a fluid situation, imagine swimming around the ocean where you carry your identity or information all with you in a seamless Way”.

Further, Palatiello adds that this is just one broad open ecosystem where people can move around and build things on top of the other, and also believes that identity is one of those things that needs to happen.

Also read, Metaverse Investment: Risks and Rewards

Even with the metaverse yet to be objectively defined, it is basically described as an immersive virtual space of corresponding 3D worlds. And as Palatiello highlights, the immersive space also authorizes creators to build 3D structures that can be utilized for varied experiential activities, like gaming.

Interplay Blockchain Fund I, like many other funds is looking to invest in Web3 products and is relying on the extensive experience of its leadership team to deliver success. Palatiello notes the team’s interdisciplinary background/experience as a strength to achieve success.


Hungry for more information?

NFT Calendar from NFTHi

Check out the Latest NFT News!

For more interesting updates on NFTs, connect with NFTHI on Twitter and Instagram.

Join us on Telegram!


NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.

Conduct thorough research before you start with NFTs

Share This Post

Related Posts

NFT fashion: How NFTs Revolutionize the Digital Fashion Industry?

NFTs are continuously making a mark around the world;...

Star Trek NFT Collection Drops Out Today

Thanks to Paramount Global and RECUR, the official Star...

CoinFLEX CEO says Roger Ver aka “Bitcoin Jesus” owes them 47M

CEO of crypto derivatives exchange and yield platform CoinFLEX Mark...

Ethereum Merge Update: Belatrix Upgrade Successful but concerns over missed block rate…

The Bellatrix upgrade readying Ethereum for the Merge was...

DraftKings brings in Steve Aoki as their NFT Brand Ambassador

DraftKings, the Fantasy sports & sports betting operator has...
spot_img