Hedge Fund Pantera Capital Says This Sector Could Onboard New Wave of Users Amid New Altcoin Project Collaboration

Crypto hedge fund Pantera Capital says that one sector of the digital assets industry could onboard new waves of users as it announces its collaboration with an under-the-radar project.

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

“Were thrilled to share that were forming a strategic collaboration with industry-leading investor Pantera Capital. Its with excitement that we can welcome the renowned fund as BEAM holders, and have their support in hiring, connecting with existing and future games and overall spreading the word about our DAO, and our gaming ecosystem Beam

Beam is the network that brings seamless blockchain technology to the gaming industry. Starting out as a simple idea, Beam has evolved into a chain-agnostic ecosystem that houses a wide variety of games, products and applications.

According to Cosmo Jiang, a portfolio manager at Pantera, the gaming sector could onboard the next generation of crypto users.

As stated by Jiang in the announcement,

Gaming, increasingly the primary medium of social connectivity, we believe could be a major catalyst for onboarding the next generation of users onto blockchain rails. We are excited to support the Beam protocol in the next leg of its journey as it leverages digital asset ownership to redefine the gaming experience.

In a thread, Jiang also tells his followers on the social media platform X that gaming is one of the most exciting markets in consumer media, even outside of Web3.

Gaming is one of the most exciting end markets across consumer media this is not unique to Web3, but Web3 is uniquely positioned to enable it. Grateful to be able to be a small part of the [Merit Circle and Beam] journey.

At time of writing, BEAM is trading for $0.149, a 7% increase during the last 24 hours.

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This article was originally reported on The Daily Hodl.