What KR1 does
Founded in 2016, the company has invested in a number of projects that it believes will power the development of the decentralised blockchain infrastructure.
The company is currently listed on the Aquis exchange in London.
How it's doing
In June KR1 participated in a token distribution event, or ‘lockdrop’, for Plasm, a decentralised application to be launched on the Polkadot blockchain.
The cryptocurrency and blockchain investor said it has time-locked 1,232 Ether, equivalent to around US$253,250, via a smart contract for various durations. In return, it will receive around 66.29mln Plasm tokens.
What the boss says: Keld van Schreven, managing director and co-founder
“Plasm is a giant step for allowing developers to build super-fast and scalable apps on the Polkadot blockchain. Polkadot is a highly anticipated blockchain that is launching this summer and is also KR1’s largest investment to date.”
“Once again, KR1 is innovating in value creation by actively participating in lockdrops, using our existing assets and helping nascent crypto networks get off the ground. These novel token distributions signal the importance and potential future value of crypto networks. Lockdrops, as well as similar types of collateral ‘drops’, are an exciting new value creation method for KR1, putting the portfolio’s assets to maximum use and establishing strong connections with upcoming crypto networks as key partners.”
- Portfolio firm Argent Labs valued at US$45mln in May
- Netted US$243,712 for stake in digital asset custodian Vo1t
- Generated US$352,620 from sale of tokens in Rocket Pool project