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The investor now has more than $1 billion in assets under management with blockchain game investments including Animoca Brands, Yield Guild SEA, Xterio, Heroes of Mavia and Kamaverse.Ī spin-off of Chinese automotive parts conglomerate Wanxiang Group, HashKey was among the first investors into Ethereum in 2014. HashKey was originally targeting $600 million, but after a year of fundraising says “timing matters more than size”.

Hong Kong-based investor HashKey Capital has announced it’s closed its $500 million Fund III.Obviously, it doesn’t highlight that VCOIN is a cryptocurrency, merely a new digital currency, with additional features compared to IMVU’s standard credits.Īnd VCORE’s potential will be more fully realised in MetaJuice’s new mobile-based social metaverse WithMe - “building a positive, friendship-focused online space” - which is currently in open beta on iOS devices, and which will be its first web3-native product.Īs everyone always says, it’s a marathon not a sprint and Metajuice seems to have two years headstart on everyone else.

Over this period, it’s also the main reason MetaJuice now claims that over one million IMVU users have opened in-app web3 wallets, which are custodial wallets controlled by MetaJuice, and required to hold VCOIN. Indeed, the significant of VCOIN - which was launched as an in-app stablecoin in early 2021: $1 = 250 VCOIN - is likely under-estimated in the wider industry in terms of how it provides users with a crypto asset, offering more features than its fiat option, but one without the sort of price volatility we’ve seen most blockchain games suffering from in the past 18 months. (It also raised $35 million in the process to give it the runaway to overcome market conditions.) Originally something of an ad-hoc 3D dating/flirting site, since it’s developed into an online platform with a heavy focus on personalization, online events, fashion, creativity and even ad-hoc business creation, such as people creating custom skins, nails, hair and jewellery for you something economists jokingly refer to as “new service sector jobs”.Īnd over the past two years, developer MetaJuice - the blockchain subsidiary of US outfit Together Labs - has slowly been adding blockchain elements starting with the VCOIN token payment system. One of the most interesting transitions of a large, existing web2 community to web3 has been that undertaken by social metaverse IMVU.

Welcome to the latest in our series of weekly features from Jon Jordan at Gamestx

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