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 Web3 venture capitalists will look to invest in blockchain gaming and collectibles projects through a new $20 million fund. 
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<div class="cointelegraph"> 
 A group of cryptocurrency venture investors has established a $20 million fund to invest in undervalued Web3 projects and companies focused on <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> <a rel="noopener noreferrer nofollow" title="gaming" href="https://thebittimes.com/tag/gaming.html">gaming</a> and digital collectibles. 
 Alpha Protocol Ventures (APV) will look to invest in a variety of projects across the Web3 ecosystem, its CEO and founder Vagelis Diamantis told Cointelegraph in an email interview. He said that <a rel="noopener noreferrer nofollow" title="gaming" href="https://thebittimes.com/tag/gaming.html">gaming</a> and collectibles will be a priority focus, while decentralized finance, layer-1 and layer-2 protocols will also fall within the scope of the fund’s capital allocation. 
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 “We will also explore projects that will try to solve real-world problems such as supply chains, data protection and infrastructure.” 
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 APV has drawn funding from Diamantis, Ethernity CEO Nick Rose, Web3 investment firm Morningstar Ventures and a group of Web3 angel investors. 
 Diamantis, formerly the chief financial officer of Ethernity, added that APV had identified a number of potential investment targets, while it would also add support to “undervalued projects” that were launched as “buy-and-hold funds” including the likes of Polygon, Polkastarter, Axie Infinity and Ethernity. 
 Related:&nbsp;From cricket to crypto: AB de Villiers ventures into Web3 
 Diamantis also added that a prolonged bear market still presents an opportunity for investors to get behind projects in their infancy that are developing innovative solutions based on <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> technology. 
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 “The crypto ecosystem has been through many cycles since it started. It’s a whole new asset class that we think will only grow exponentially.” 
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 Diamantis said that APV would double down on <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> companies and Web3 applications, targeting undervalued companies and undiscovered <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> technologies. 
 Web3 projects and platforms have continued to attract sizeable investments from VC firms and fund managers through 2023. 
 Animoca Brands announced that it would invest $30 million into Web3 neobank Hi in July 2023, with founder Yat Siu outlining innovative products like its customizable nonfungible token-styled crypto debit card as a potential draw card for Web3 enthusiasts in an exclusive interview with Cointelegraph. 
 Meanwhile, another venture firm, Vessel Capital, announced a $55 million fund that will also look to back Web3 infrastructure and applications. That number was eclipsed by cryptocurrency exchange Bitget, which unveiled a reported $100 million fund targeting Asia-based Web3 and blockchain projects. 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/new-20m-fund-eyes-blockchain-gaming-and-nfts-tbt61700.html">https://thebittimes.com/new-20m-fund-eyes-blockchain-gaming-and-nfts-tbt61700.html</a>

New $20M fund eyes blockchain gaming and NFTs

TheBitTimes

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