As of July 1st, 2019, the State of Delaware has made some progress on NFTs investments. The state now allows companies to issue securities via blockchain technology and has set up a regulatory framework for these types of transactions. In addition, the state has also created a legal entity called a “Series LLC” which is designed for enterprises that engage in multiple businesses or activities. Explore NFT code for further information.
This type of LLC is advantageous because it can help protect the business from liabilities incurred in other areas. The state is also home to many venture capitalists and startup incubators, making it an ideal place to launch an NFT investment company.
One notable company that is headquartered in Delaware and focuses on NFT investments is Blockchain Capital. The firm has made several notable investments in the space, including a $4 million investment in an NFT marketplace called OpenSea. In addition, Blockchain Capital has also invested in a number of other blockchain and cryptocurrency companies, such as Coinbase, Ripple, and Blockstream.
Another company that is based in Delaware and focuses on NFT investments is 1Kx. The firm was founded by early Bitcoin investor Jeffrey Wernick and entrepreneur Vinny Lingham. 1Kx has made several notable investments in the space, including a $1 million investment in an NFT startup called Decentraland. In addition, 1Kx has also invested in a number of other blockchain and cryptocurrency companies, such as Civic, OmiseGo, and 0x.
News of NFTs Investment in Delaware Blockchain Initiative
NFTs are a type of digital asset that can represent anything from art to real estate. And now, it seems, they’re making inroads into the world of investing.
The Delaware Blockchain Initiative, a public-private partnership between the state of Delaware and blockchain startup ConsenSys, announced today that it has invested $3 million in an NFT fund created by Amino Capital.
The fund will be used to invest in early-stage companies developing applications on top of Ethereum that use non-fungible tokens (NFTs).
“We’re big believers in the potential of NFTs,” said Ryan Zellers, director of the Delaware Blockchain Initiative. “This investment will help us identify and support the most promising projects in this space.”
Amino Capital was founded by Silicon Valley veterans Alex Mittal and Shuai Chen. The firm has previously invested in companies such as Coinbase, Blockstack, and Dapper Labs (the creator of CryptoKitties).
“We’re excited to be partnering with the Delaware Blockchain Initiative to help accelerate the development of the NFT ecosystem,” said Mittal. “This is a nascent industry with a lot of potential, and we believe that Delaware is uniquely positioned to become a leader in this space.”
The Delaware Blockchain Initiative was launched in 2016 with the goal of making Delaware “the most blockchain-friendly state in America.” Since then, the initiative has been working to promote the use of blockchain technology in a variety of industries, including banking, healthcare, and law.
“This investment is a natural extension of our work to support the adoption of blockchain technology in Delaware,” said Zellers. “We believe that NFTs have the potential to revolutionize a number of industries, and we’re excited to be supporting the companies that are leading this charge.”
The Amino Capital fund is the latest in a series of investments made by the Delaware Blockchain Initiative. In 2017, the initiative invested $1 million in a fund created by Blockstack, and in 2019, it invested $3 million in a fund created by ConsenSys.
Future of NFTs Investment in Delaware
With the recent explosion in the popularity of non-fungible tokens (NFTs), it’s no surprise that Delaware is considering investing in this new technology. NFTs are digital assets that are unique and cannot be replicated, making them ideal for collectibles, art, and other digital goods.
Delaware is well-positioned to become a leader in the NFT space due to its favorable legal environment and its history of supporting innovative technologies. The state has already passed legislation that recognizes the legal status of blockchain-based assets, and it is home to numerous blockchain companies.
Investing in NFTs could help Delaware attract more businesses and investments to the state. It could also create new opportunities for entrepreneurs and artists. And by supporting the use of NFTs, Delaware could position itself as a leader in the emerging digital economy.