Digital asset investment company KR1 PLC (AQSE:KR1) has announced a slew of investments into new and existing projects across the blockchain sector.
HydraDX and Basilisk are cross-chain liquidity protocols aimed at enabling frictionless liquidity for crypto assets across different chains. KR1 has invested a total of US$250,000 in the strategic funding round of HydraDX in return for a percentage of HDX and BSX tokens.
KR1 invested US$400,000 into Superchain, an “open index protocol that will be able to collect and customise blockchain data within minutes, which enables builders to create faster decentralised applications”.
Other investments include the Argent Labs cryptocurrency wallet, in which KR1 invested US$221,000, plus a US$150,000 investment into metaverse-focused blockchain protocol Metaprime.
Commenting on the investments, KR1’s managing director and co-founder Keld van Schreven said: “We continue to see innovative and disruptive early-stage projects that represent strong investment opportunities, despite the ongoing crypto bear market and difficult macroeconomic market conditions.
“As such, we are excited to have invested in Superchain and Metaprime, which we believe have the potential to become disruptive market leaders in their categories. We have also increased our commitment to HydraDX and Argent as we believe they represent the best in class for their categories and have been impressed with each team's performance to date.”