Million

when

Partner

<a href="https://bitcoinworld.co.in/dwf-labs-launches-20-million-fund-for-web3-projects-in-china/" title="DWF Labs Launches $20 Million Fund For Web3 Projects In China" rel="noopener noreferrer nofollow"></a>
<a href="https://www.dwf-labs.com" rel="noopener noreferrer nofollow">DWF Labs</a>, a Web3 investor and market maker, has launched a $20 million Cloudbreak Fund to support Web3 projects and founders in Chinese-speaking regions.
According to an official press release, the fund is designed to offer substantial investments and strategic resources to expedite the growth of Web3 projects.
Andrei Grachev, Managing Partner at DWF Labs, explained the rationale behind the establishment of the Cloudbreak Fund:
“Projects in Chinese-speaking regions have experienced tremendous growth in recent months and require dedicated support […] To meet this need, Cloudbreak was created, a fund designed to unlock the potential of emerging projects in Chinese-speaking regions.”
Targeted Sectors
The Cloudbreak Fund will fund several key sectors, including gaming finance (GameFi), social finance (SocialFi), memecoins, derivatives, and layer-1/layer-2 projects.
Chinese-speaking regions operating within these sectors are encouraged by <a href="https://bitcoinworld.co.in/dwf-labs-ceo-andrei-grachev-rumored-to-buy-prom-prom-altcoin/" rel="noopener noreferrer nofollow">DWF</a> Labs to apply for the Cloudbreak Fund to receive the resources needed “to realize their full potential.”
In a written Q&amp;A, Grachev explained that, “for applicants, the DWF Labs team will be reviewing each submission thoroughly and is open to any project in Chinese-speaking regions.”
“We encourage these projects to apply and look forward to building together.“
<h3 id="span-style-font-weight-400-fund-launch-amid-market-turbulence-span">Fund Launch Amid Market Turbulence</h3>
Explaining about the decision to launch the Cloudbreak Fund at a time of market turbulence, Grachev said:
“The launch of the Cloudbreak Fund comes at a critical moment when the market is experiencing a downturn. We hope that this fund will reinvigorate projects’ ability and willingness to continue building despite current challenges.”
Grachev emphasized that the strategic move aligns with DWF Labs’ “commitment to the Web3 ecosystem.”&nbsp;
“Our goal is to support innovative and promising Web3 projects and ensure that they have the resources needed to thrive and succeed during these times.”
<h3 id="span-style-font-weight-400-web3-projects-go-mainstream-span">Web3 Projects Go Mainstream</h3>
Web3 technology is gaining increasing attention, along with a growing understanding of its utility, as demonstrated by the Bali Burning Man-inspired Lampu festival.
With real-world use cases possible through non-fungible tokens (NFTs), Cointelegraph Accelerator participant Belong created a Web3 NFT ticketing platform for the Bali event.
The platform enabled organizers and community owners to sell NFT passes for event participation in fiat and crypto, backed by its token-gated access infrastructure.

DWF Labs Launches $20 Million Fund For Web3 Projects In China

Tabla de contenidos

ItsBitcoinWorld

Otros artículos publicados el 5 jul 2024

MoonBag Leads As The Top Crypto Presale in 2024, Leaving Behind Coins Like Dogecoin and Chainlink

Bitcoin’s Plunge and Toncoin’s Calm: Why Furrever Token’s Bonus and Launch Could Be Your Best Bet

Crypto Ponzi Scheme Busted: US Court Orders Hedge Fund Owner To Pay $84 Million

Don't Buy Meme Coins, Adam Back Says

Arbitrum (ARB) vs Optimism OP: Is There Too Much Competition In The Ethereum Layer 2 Market? Are ...

$DOP Announces Listing on 7 Exchanges including BYBIT, Kucoin, Gate.io, and Bitfinex

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!