According to TechFlow, Israeli cryptocurrency incubation platform Gems reported that it has raised $198 million to "discover the real gems in the Web3 field." The funds raised will be allocated to Gems' first three projects.
The Gems platform is understood to bring together a large network of investors, organized by "leaders", to provide early access to early projects that are considered high-quality. Gems claims to provide a solution to ICO scams that have severely affected the entire digital asset industry.
Gems bootstrapped itself earlier this year, raising $10 million and launching its native token, GEMS.
