Rare Bits founders (left to right) Danny Lee, Payom Dousti, Dave Pekar, and Amitt Mahajan.
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VR investor moves into cryptocurrency with asset store Rare Bits

  • Posted byby Dean Takahashi
  • Updated
  • 3 min

If you’re wondering where the virtual reality investors have gone, Amitt Mahajan is a good example. He is the cofounder of the Presence Capital, which made millions of dollars of investments in 40 VR startups. Now he’s gone crypto.

Mahajan has put the VR fund on hold for a bit while joining Rare Bits as a full-time cofounder and chief technology officer. Rare Bits has started a store where you can buy and sell cryptocurrency virtual goods, from CryptoBots to CryptoKitties. It’s a secondary market for blockchain game assets, which are based on public ledger technology where item ownership is easily identified.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.