Technology

Sfermion Raises $100M NFT Fund as Facebook Stokes Metaverse Mania

Sfermion, an investment firm led by crypto podcaster and analyst Andrew Steinwold, says it has raised $100 million for a new fund focused on non-fungible tokens (NFTs), with contributions from Marc Andreessen and the Winklevoss twins. Steinwold told CoinDesk that the fund, dubbed simply “Fund II,” will focus in on the “experiential infrastructure that involves the NFT space.” It’s part of Sfermion’s mission to usher in the advent of the “metaverse” – a digital layer sitting on top of the real world, accessible via the internet, virtual reality (VR) and augmented reality (AR). This sort of thing has been around for years (remember Yelp’s Monocle?), but has yet to capture the mainstream imagination in a significant way.

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