The launch of “Delphi InfinNFT,” a new investment wing focused on nonfungible tokens and the NFT ecosystem, has been announced by Delphi Digital — a multiservice cryptocurrency investment, consulting and research firm on Friday.
NFT marketplaces, DAOs, social tokens, fractionalization, NFT infrastructure, and any other new developments that may arise during the syndicate’s investment cycle will get an investment of upward of $5 million. Noted collector, Gmoney will bolster the team.
However bring blockchain into public consciousness, an NFT-focused fund might not be a surprise, given how the use case has been a banner carrier. Also, the prices of NFT is subject to volatility and may be uncorrelated to the crypto markets that is considered wide.
Delphi co-founder Yan Liberman told Cointelegraph that the company is prepared to weather any downturns, however.
“Our fund has a very long term focus so the volatility is less of a concern. We actually think of it opportunistically in that it can favorable price entries,” he said.
Additionally, the company’s investment processes won’t have to change to accommodate the focus on a new asset class.
“Our investment process is very similar to the one we employ at Delphi Ventures. Begins with heavy due diligence and ends with a firm wide investment committee where we leverage our spectrum of expertise to have an exhaustive discussion about the project and landscape. The investment philosophy is also similar in that we’re looking to support the best founders and ideas with everything Delphi has to offer.”
The firm’s claim to being the “first” on-chain NFT-focused fund did ruffle some pink feathers, however. As multiple members were quick to point out in Delphi’s Twitter thread, Flamingo DAO was the first DAO formed as an NFT investment group, and it has been making headlines with high-priced purchases in recent months.
However, aside from the spat over superlatives, it’s unlikely that there will be competition between the groups. While many of Flamingo DAO’s investments thus far have been in NFTs directly, InfinNFT looks to focus on infrastructure, though Liberman noted that “We plan on investing in both NFT infrastructure and directly into NFTs themselves.”