Terra Early Investor Talks About New Investment Projects

One of the earliest investors in the Terra project, Simon Sejun Kim, still believes in the cryptocurrency industry despite the onset of the “cryptocurrency winter.” He spoke about this in an interview with Bloomberg.

As the head of venture capital firm Hashed, Kim wants to form a new investment fund in the first half of 2023. According to him, this time, investments will be aimed at gaming projects based on blockchain networks (GameFi). Kim believes that the virtual game world will be increasingly tailored to the real economy, which could create “a huge number of jobs.”

However, now Hashed will not be in a hurry to invest, as the collapse of Terra hit investment strategies hard. According to Kim, he bought 30 million LUNA tokens at the start. It is not clear at what rate the tokens were purchased. However, this fortune was estimated at $3.6 billion in April, when LUNA quotes reached their maximum. Despite the setback, Kim said he has no plans to slow down investment in the sector:

“In the tech sector, there is no such thing as a portfolio that guarantees success, and we make our investments with that in mind.”

For Kim, the consequences are not limited to monetary losses. At least, according to Bloomberg, several South Korean publications accused him of promoting LUNA and selling parts before the collapse of Terra.

Kim himself denies such accusations, saying that he kept 99% of his early investments in LUNA throughout the entire fall of the ecosystem. The only sales were from staking rewards, but Kim did not elaborate on the amount.