DWF Labs Unveils $20M Cloudbreak Fund to Support Chinese Projects
DWF Labs, a leading market maker and Web3 investment firm, has announced the launch of the Cloudbreak Fund, a $20 million initiative aimed at providing support to projects and entrepreneurs in Chinese-speaking regions.
The Cloudbreak Fund has been established with the goal of fostering innovation and development in various sectors, including gaming, social finance, meme coins, derivatives, and layer-1 or layer-2 blockchain technology.
Chinese-speaking regions encompass Hong Kong, China, Macao, Taiwan, and Singapore. The gaming industry, in particular, holds immense potential for growth and transformation, with blockchain technology offering novel opportunities for monetization and enhanced gaming experiences.
DWF Labs Invests $5M in LADY
DWF Labs has a strong track record of investments in the Web3 space, and its most recent venture involves a $5 million injection into the Milady Meme Coin (LADYS).
This sizable investment showcases the firm’s confidence in the project’s potential, and it aims to unlock new avenues for development and ecosystem expansion for Milady Meme Coin.
According to DWF Labs, this partnership will foster collaboration and community engagement within the meme coin and the broader Web3 landscape, aligning with the firm’s investment philosophy of supporting projects that demonstrate potential and prioritize community focus.
The $5 million investment in LADYS is expected to pave the way for significant growth and engagement opportunities.
Web3 Gaming Growth in 2024
The year 2024 is witnessing rapid growth in the web3 gaming sector, with increasing venture capital investments pouring into the space. Last year alone, funding rounds related to blockchain gaming amassed an estimated $1.7 billion. A significant portion of this funding was directed towards the development of 270 blockchain games on the Immutable platform.
Earlier this year, King River Capital, Immutable, and Polygon Labs joined forces to launch a $100 million gaming fund, further solidifying the investment interest in this evolving sector.
Furthermore, renowned Silicon Valley venture capital firm Andreessen Horowitz (a16z), founded by Marc Andreessen and Ben Horowitz, has announced its plan to invest $30 million in gaming startups throughout this year.
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