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UAE Royal Strategic Partners, a subsidiary of Abu Dhabi Capital Group (ADCG), Korea NFT Contents Association and Korean Hillstone Partners, investor in blockchain and crypto projects which funds Hillstone Financehave agreed to create a joint venture fund for investment in NFT ( Non Fungible Tokens), blockchain, crypto and the Metaverse. The fund which should launch this year will start with a 1 billion USD investment.
The 1 billion USD Blockchain, crypto, NFT focused joint venture fund will be registered in both Singapore and Dubai UAE, after negotiations, investment process and methodology are finalized.
Korea NFT Contents Association, Director, Kim will be managing the Blockchain, crypto NFT focused joint venture Fund. According to the medium post, the one billion USD fund will target blockchain firms, crypto exchanges, K-POP contents, art works, real estate, healthcare and others.
“UAE has been emerging as the business hub for blockchain and virtual assets. We expect a great synergy effect on oversea investment and the utilization of virtual assets through this partnership.” stated Kim.
“NFT is the bridge between the real and virtual world; NFT has already established itself as a new investment method considering the current trend. Hillstone will utilize its global fund network for the best of this Joint Venture partnership” added Rayol Hwang CEO of Hillstone Partners
Prior to this announcement, UAE Royal Strategic Partners and Chinese Jinsha group partnered to invest in Blockchain projects. Various private venture capitalist firms have also shown interest in developing funds for blockchain and crypto, these include Cypher Capital, Matcha Capital, as well as crypto Oasis Feel among many others.