WEB3
by Soumen Datta
July 4, 2024
This initiative targets areas like GameFi, SocialFi, Memecoins, Derivatives, and Layer 1/Layer 2 infrastructure projects.
Web3 market maker and investor DWF Labs has launched a $20 million fund to support Web3 projects in Chinese-speaking regions. This initiative, named the Cloudbreak Fund, aims to provide substantial investments and resources to advance groundbreaking Web3 projects.
DWF Labs remains a strong supporter of the Web3 industry through times of market fluctuations. To show our commitment, we’re launching our $20 million USD Cloudbreak Fund to empower promising Chinese-speaking region projects and founders with substantial investments and strategic… pic.twitter.com/Uhdzytl9aN
— DWF Labs (@DWFLabs) July 4, 2024
The fund will focus on several key areas, including GameFi, SocialFi, Memecoins, Derivatives, and Layer 1/Layer 2 infrastructure projects. DWF Labs aims to help innovative projects achieve their full potential by targeting these areas.
"We have been working with founders in Chinese-speaking regions since 2018. I’m personally a big fan of their culture and intense, diligent work ethic," stated Andrei Grachev, Managing Partner at DWF Labs.
Grachev emphasized the importance of supporting these projects, which have seen tremendous growth recently.
Worth noting, that the Chinese government remains committed to other aspects of the emerging economy despite its ban on crypto trading, mining, and other activities. Further, the launch of a Bitcoin Exchange-Traded Fund (ETF) in Hong Kong positively impacted China.
DWF Labs has reportedly worked with founders in Chinese-speaking regions since 2018. With an established network of over 700 partner companies, DWF Labs provides liquidity to its network of Web3 investors and market makers.
Last May DWF Labs announced plans to deploy capital into memecoins.
“We are in talks with a few memecoins and willing to deploy a large amount of funds in order to let them grow faster and efficient,” said Andrei Grachev on X.
The firm has been in partnership with Floki for over a year, facilitating its inclusion on major exchanges and forging relationships with industry giants. DWF Labs’ support has been instrumental in Floki's significant milestones and achievements.
For the Floki ecosystem, DWF Labs has committed over $20 million in Floki tokens.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
Author
Soumen Datta
Soumen is an experienced writer in cryptocurrencies, DeFi, NFTs, and GameFi. He has been analyzing the space for the last several years and believes there is a lot of potential with blockchain technology, even though we are still at an early stage. In his spare time, Soumen enjoys playing his guitar and singing along. Soumen holds bags in BTC, ETH, BNB, MATIC, and ADA.
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