Ex-Moonbirds COO ryancarson's NFT fund sees $40 million in commitments By Yogita_Khatri5
on Tuesday that the fund has seen over 14,000 ETH in commitments and that it will start buying NFTs in July.
The 121G fund, whose name is a reference to the movie Back to the Future, is focused on acquiring and holding “historically significant blue-chip NFTs,” Carsonon Twitter last month. “We will focus on collecting a broad range of important NFTs across the following categories: generative art, photographs, token-gated communities, metaverses, PFPs [profile pictures], 1/1s and more,” he added.
The fund has a longer-term view on NFTs, holding acquired pieces for 3-10 years, according to Carson. Like many alternative investment funds, it charges a 2% managementCarson said the majority of the 121G fund will be used to acquire “a strategic ratio of blue-chip floor and rare NFTs” and the remainder will be invested in “up-and-coming promising projects.”and Proof Collective, two popular NFT collections. They both are in the top 15 collections in terms of floor price.
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