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Citi Veteran Sets up $1.5 Billion Crypto Fund with Algorand as Major Partner

Citi Veteran Sets up $1.5 Billion Crypto Fund with Algorand as Major Partner

With Algorand as a strategic partner, Citi Veteran launches a $1.5 billion crypto fund.

The former Goldman Sachs analyst Sam Peurifoy, better known as "Das Kapitalist" in the gaming community, will lead the fund's play-to-earn gaming division.

Ex-Citi exec Matt Zhang has launched Hivemind Capital Partners, a venture capital firm that will invest $1.5 billion of its initial capital in blockchain and digital asset ecosystems. Algorand has been selected as a strategic partner by Hivemind as part of the fund launch to supply technology and network ecosystem infrastructure for the layer 1 blockchain.

Venture capital firm Hivemind plans to invest in crypto startups and trade digital assets with its new fund. Ex Goldman Sachs analyst Sam Peurifoy, who goes by the gaming handle "Das Kapitalist," will lead a gaming-focused part of the company. For those who want to get involved in the realm of virtual reality (VR) and virtual currency (VC), there are a number of investing options available.

As co-head of Citi's structured products trading and solutions division, Zhang had previously worked for 14 years. It is still early days for blockchain technology, but we think it to be a paradigm change in the making." "We feel that blockchain technology represents a paradigm change, and we are only at the beginning stages. Our objective is to provide complete funding and infrastructure solutions to visionary entrepreneurs and category-defining cryptocurrency initiatives," Zhang stated in a press release.

Zhang praised Peurifoy's "unique combination of strong knowledge of the play-to-earn market, close relationship with the community and a real enthusiasm for gaming and the metaverse," when asked about his new hire. From the start, we have a very exciting plan for our play to earn strategy and beyond thanks to Algorand as our first strategic partner. In an email to CoinDesk, Zhang said, "I think we will do some fantastic things together."

In terms of the Algorand and broader blockchain ecosystem, Hivemind's effort offers a significant new milestone. W. Sean Ford, COO of Algorand, said in a statement that Hivemind will "change the way enterprises use blockchain to revolutionize businesses."

Recruiting will be a priority in the near future, Zhang told CoinDesk. China's Zhang stated, "We are painstakingly focusing on hiring and strengthening the decentralized world's staff.

As the value of digital assets has risen, crypto funds have raised even larger sums of money this year. Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang formed Paradigm earlier this month, which launching a $2.5 billion crypto fund. This surpassed Andreessen Horowitz's $2.2 billion crypto investment fund, which was announced in June Crypto News.

Sounds ridiculous, but you can earn cryptocurrency by participating in this "Pokémon Go"-like game. In blockchain-based P2E gaming, the platform pays you — yes — to play crypto-yielding games. Positively, peer-to-peer (P2P) games are real. It's becoming more and more common for games to pay its players to play. The drawback of P2E games is that they often have a "You have to spend money to make money" vibe to their gameplay.

Coin Hunt World is one of play-to-win crypto games.

Coin Hunt World (CHW), the mobile app platform I was referring to at the outset, is the best play-to-earn game. It's similar to Pokémon Go, however instead of gathering Charmanders and Squirtles, you're scavenging for Bitcoin (BTC) and Ethereum (ETH), which are both digital currencies (ETH).

An charming cube-shaped blue dude displays your location on a digital map in CHW, a geo-location game. The blue guy is two steps behind you wherever you are. In CHW, there were blue keys on a digital map that represented your neighborhood.

You couldn't play this game from your couch; you had to go outside and collect all the keys scattered over the globe. Walking to a neighboring 7-11, favorite Greek restaurant, an empanada restaurant, and a few other familiar spots, eventually found the blue keys. Upon submitting all of acquired keys to a vault, you were asked to answer a test question. You will get BTC and ETH for free if you answered the question correctly.

You can make 60 cents worth of BTC and 40 cents worth of ETH after using CHW for 30 minutes. With enough BTC and ETH in your Uphold account, you may exchange it for fiat (or any other type of currency) via CHW.

Because Coin Hunt World doesn't give out shitcoins to players, it's the best play-to-earn crypto game out there. Bitcoin and Ethereum are two of the most well-known cryptocurrencies, therefore I was surprised to see them given out as prizes. First and foremost, this game is absolutely free to play, which is a rarity in the P2E market.

You'll need a lot of spare time to make a sizable sum of cryptocurrency on CHW. Also, if you live in rural areas, you'll have a harder time finding keys.

I know what you're wondering, "How is CHW making money if you're getting paid in ETH and BTC?" It's not, is it? According to CoinHuntWorldWiki, the game is now losing money. It is expected that advertising will be a significant source of revenue for CHW in the future. You won't see any of the obnoxious pop-ups or movies you've seen on other mobile apps in these advertisements. Rather, the CHW platform aims to charge token teams to teach consumers about their cryptocurrency. In the United States, the most popular exchange for cryptocurrencies is Coinbase. When users watch educational movies regarding their partners' coins, they get paid (so far, I have received a reward of roughly $20).

At the time of this writing, CHW is only available on Google Play for Android users. In addition, the CEO of Bittrex, a well-known crypto trading site, is one of the Coin Hunt World co-founders.

Wolf Game may be the right game for you if you don't mind spending some money before playing. So, how does Wolf Game work? Well, wolves run and sheep are highly vulnerable to their attacks.

When you buy an animal for your barn, you never know if you'll get a wolf or a sheep. This is what makes the game fun. Wolves, on the other hand, are incredibly difficult to come by. An animal can be stolen by a wolf in the game while you're in the process of gaining possession of it. This increases the risk factor. Then there's the risk of losing money as well! However, if everything goes according to plan, your sheep or wolf will be delivered to your barn without incident.