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Home»ALTCOIN NEWS»Hedge fund Pantera Capital says the sector could attract a new wave of users through collaborations on new altcoin projects.
ALTCOIN NEWS

Hedge fund Pantera Capital says the sector could attract a new wave of users through collaborations on new altcoin projects.

By Crypto FlexsDecember 6, 20233 Mins Read
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Hedge fund Pantera Capital says the sector could attract a new wave of users through collaborations on new altcoin projects.
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Cryptocurrency hedge fund Pantera Capital said a sector of the digital asset industry could attract a new wave of users as it announced a collaboration with a secretive project.

In a new blog post, decentralized autonomous organization (DAO) Merit Circle (MC) revealed that it is collaborating with Pantera Capital as a means of strengthening Beam (BEAM), a gaming ecosystem powered by layer-1 blockchain Avalanche (AVAX).

“We are excited to share that we are forming a strategic partnership with industry-leading investor Pantera Capital. We are very excited to welcome such a renowned fund as a BEAM holder and receive support in recruiting, connecting existing and future games, and overall promotion of the DAO and gaming ecosystem Beam.

Beam is a network that provides seamless blockchain technology to the gaming industry. “Beam started as a simple idea and has evolved into a chain-agnostic ecosystem housing a wide range of games, products, and applications.”

The gaming sector could attract the next generation of cryptocurrency users, according to Cosmo Jiang, portfolio manager at Pantera.

As CEO Jang stated in the announcement,

“As an increasingly primary medium for social connection, we believe that gaming can be a major catalyst for bringing the next generation of users onto the blockchain rails. We are excited to support the Beam protocol on its next journey, leveraging digital asset ownership to redefine gaming experiences.”

Jiang also in the thread says Followers of social media platform

“Gaming is one of the most exciting end markets across consumer media. This is not unique to Web3, but Web3 is uniquely positioned to make this possible. I’m grateful to be a small part of (Merit Circle and Beam’s) journey.”

As of this writing, BEAM is trading at $0.149, up 7% in the last 24 hours.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Featured image: Shutterstock/bestfoto77/INelson

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