Coinspeaker DWF Labs Announces $20M Fund for Web3 Projects in Chinese-Speaking Regions
Web3 investor and crypto market maker DWF Labs has announced the launch of a $20 million fund to support innovative Web3 projects in Chinese-speaking regions. The funding highlights DWF Labs’ commitment to fostering innovation and growth in the Web3 space.
Concentration Areas of Cloudbreak Fund
Dubbed Cloudbreak, the fund will help grow outstanding initiatives in GameFi, SocialFi, Memecoins, Derivatives, and Layer 1/Layer 2. Projects in Chinese-speaking regions under these categories are welcome to apply for the Cloudbreak Fund and give their innovations a new spin. Specifically, the fund aims to allow localized projects to bring their concept to a global audience while unlocking new use cases for web3.
Projects and founders are invited to apply here. DWF Labs’ focus on Chinese-speaking regions is driven by a recent increase in crypto projects in those areas. Commenting on this, Andrei Grachev, Managing Partner at DWF Labs stated:
“Projects in Chinese-speaking regions have experienced tremendous growth in recent months and require dedicated support to realize their full potential. To meet this need, Cloudbreak was created, a fund designed to unlock the potential of emerging projects in Chinese-speaking regions.”
“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,” Grachev added.
Despite its ban on crypto trading, mining, and other activities such as staking, China has also shown commitment to other aspects of the emerging economy. In January, the country introduced a metaverse working group dedicated to advancing the creation of the state-owned digital universe known as Yuanverse.
The launch of a spot Bitcoin Exchange-Traded Fund (ETF) in Hong Kong also seems to be having a positive effect on China. As previously reported by Coinspeaker, experts claim there is no better time than now for China to seek alternative investment opportunities.
DWF Labs Commitment to Web3
DWF Labs has a proven track record of supporting innovative projects in the Web3 space. The market maker can provide financial support and a partner network of over 700 projects. Also, DWF Labs is well-positioned to support projects exploring tokenization due to its experience as a leading liquidity provider.
The company’s commitment to Web3 includes overseeing wallet integrations, hackathons, funding initiatives, and grant programs. In addition, DWF Labs provides strategic branding and market channel distribution to many crypto projects.
Furthermore, DWF Labs has specific interests in meme coin and has pledged to continue supporting the Floki (FLOKI) ecosystem. Last month, the firm announced plans to purchase $12 million worth of the dog-themed meme coin. According to the details, DWF Labs will split the purchase between buying from the open market and the Floki project treasury.
Meanwhile, the firm recently partnered with Dubai Multi Commodities Centre (DMCC) to offer a new $5 million growth platform for Web3 and blockchain businesses. With this partnership, DWF Labs is renewing its commitment to the MENA region.
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DWF Labs Announces $20M Fund for Web3 Projects in Chinese-Speaking Regions