Cryptocurrency-focused venture firm NGC Ventures has launched a new ecosystem fund dedicated to Web3 projects, highlighting growing investor demand for startups contributing to the development of a decentralized internet.
NGC Metaverse Ventures, the company’s third blockchain fund, has raised $100 million from investors including Babel Finance, Huobi Ventures, Nexo Ventures, Altonomy and GBIC. The fund will allocate capital to “high-potential projects” in the Web3 economy, according to Roger Lim, general partner at NGC Ventures.
Web3’s fund has already invested in three startups, NGC revealed on Wednesday.
Headquartered in Singapore, NGC Ventures was founded in 2017 as a blockchain and fintech-focused venture firm. He was an early investor in Solana (SOL), Algorand (ALGO), and Oasis (ROSE), among others.
The web3 and metaverse projects have aroused great interest in the venture capital community. Since mid-April, venture capital firms have pledged to invest nearly $3 billion in these projects.. In particular, Silicon Valley venture capital firm Andreessen Horowitz has launched a $600 million fund dedicated to gaming companies in the Web3 economy.
Google is looking for Web3 talent.
The Google Cloud division is looking for a ‘Head of Product Marketing’ who will be responsible for raising awareness about Google Cloud’s Web3 initiatives in addition to eventually building customer demand. https://t.co/fdKd31Asue
— Cointelegraph (@Cointelegraph) May 25, 2022
Google is looking for Web3 talent.
The Google Cloud division is seeking a “Head of Product Marketing” who will be responsible for raising awareness of Google Cloud’s Web3 initiatives, as well as generating customer demand.
The economics of Web3 has been a key talking point at the World Economic Forum Annual Meeting, taking place in Davos, Switzerland, this week. In an exclusive interview with Cointelegraph, Polkadot (DOT) founder Gavin Wood said the growth of Web3 has been “encouraging because it means people are seeing this underlying technology power different applications” that go beyond the cryptocurrencies.
2022 is shaping up to be another record year for cryptocurrency venture capital. In the first quarter alone, venture firms allocated $14.6 billion, or 48% of all invested capital in 2021, to crypto and blockchain startups, according to Cointelegraph Research.
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