Terry Vogiatzis, the former financial advisor at Findex, has joined NFT gaming platform Balthazar as the new Chief Investment Officer to strategize the organization’s investment plan. His enthusiasm for innovation has finally landed him in the crypto industry.
After joining Balthazar Vogiatzis said:
“I’m excited to apply learnings and principles of traditional finance and markets to the cryptocurrency space, and help build a cryptocurrency and DAO (Decentralised Autonomous Organisation) from the ground-up…I’m also excited to manage Balthazar’s internal treasury, implementing cryptocurrency strategies which are already proving successful.”
On his part, the Balthazar CEO, John Stefanidis, said:
“We are thrilled to have Terry on board,…With his experience and background in traditional finance, coupled with a deep understanding of the cryptocurrency market, Terry brings a unique and highly valuable strength to Balthazar.”
Balthazar was launched in September 2021, leading to rapid growth in its Discord community with over 70,000 people and over 35,000 of them whitelisted for its scholarship program. It closed its first token sale last month where it was able to raise $3 million in a fundraising round that saw the likes of Animoca Brands invest in the project. It is predicted to close its private token sale at around $8 million with a valuation of $150 million.
Balthazar wants to invest in the NFT gaming industry through scholarship programs, where players can use NFT gaming assets to earn rewards tokens. Yields (Wizards or Scholars) from these NFTs will be shared between players and Balthazar.
Balthazar also wants to go beyond traditional gaming guilds by advancing their technology to have a competitive advantage where NFT asset holders can lend their NFTs to Balthazar and earn yields.
Exploring NFT gaming space
According to Balthazar, the play-to-earn market has seen massive growth over the past year, with popular games like Axie Infinity generating over $1.3 billion. Crypto Gaming United, Merit Circle, and Yield Guild Games also saw a fully diluted valuation of $2 billion altogether.
Balthazar financial management
Vogiatzis will assume a new role in the Balthazar internal investment strategy and tokenomics.
Concerning his new role, Vogiatzis said:
“Launching a cryptocurrency requires far more thought than one may think, especially when trying to parallel fundamentals to traditional investments….For example, the most difficult thing about monetizing on fully diluted valuations is building liquidity and market depth, as the majority of tokens adding to this valuation have not yet vested. Various strategies need to be considered when incentivizing liquidity such as offering “staking rewards” for investors that provide liquidity to the market, and tying this into the gradual vesting of investor tokens.”
Vogiatzis also added that he will be conducting regular virtual workshops to teach the Balthazar community about finances:
“I’m humbled to have the opportunity to make a difference in our community by helping people learn not just about the benefits of cryptocurrency strategies but also the risks involved and the importance of diversifying into other asset classes,” said Vogiatzis. “I believe NFT gaming will make a positive impact for many people, particularly in developing countries.”