Web3 investor DWF Labs has created a new fund to foster the growth and expansion of the blockchain industry in China, with a focus on key sectors such as GameFi, SocialFi and memecoins.
The new $20 million fund announced by DWF Labs, called Cloudbreak Fund, is an initiative that aims to support promising projects and developers in the crypto/blockchain industry in Chinese-speaking regions.
Through this fund, investor Web3 seeks to foster innovation in emerging technologies, supporting projects and their creators with substantial investments and strategic resources that will accelerate the growth of the crypto industry and provide new opportunities in the region.
The Cloudbreak Fund will invest in promising projects focused on key sectors such as game fi, SocialFi y memecoins, which are helping to consolidate the crypto industry as one of the most competitive, flexible and innovative today.
In addition to the sectors mentioned above, the new DWF Labs fund will also support projects in Layer1 and Layer2 blockchain infrastructure, Crypto derivatives e Artificial Intelligence.
The release In a statement announcing the launch of Cloudbreak Fund, DWF Labs highlighted that through the funding, it will foster innovation and growth in the Web3 space in China and Asia.
The company also extended an invitation for projects located in Chinese-speaking regions and operating in the aforementioned crypto industry sectors to apply and participate in the new fund, in order to seize this opportunity to accelerate their growth and establish themselves as pioneers in the digital ecosystem.
Crypto industry is expanding in China
Andrei Grachev, Managing Partner at DWF Labs, highlighted that the company has been working with several crypto project founders in Chinese-speaking regions since 2018 and that, in recent months, these have seen exponential growth, which is why the launch of Cloudbreak Fund has represented a strategic step to unlock the potential of emerging projects in this part of the world.
According to Grachev, DWF Labs is focusing on Chinese-speaking regions, motivated by their culture and “intense and diligent work ethic.”
“Projects in Chinese-speaking regions have seen tremendous growth in recent months and require dedicated support to reach their full potential,” Grachev declared.
As an experienced Web3 investor and liquidity provider, DWF Labs can provide financial backing and access to a broad partner network spanning hundreds of projects. Additionally, with its track record as a leading liquidity provider, DWF Labs is well positioned to support emerging projects looking to innovate in tokenization.
On the other hand, in addition to supporting the growth of crypto sectors in Chinese-speaking regions, DWF Labs is also focused on bringing blockchain and Web3 innovation to other regions in Asia, such as Dubai.
Earlier this year, the company announced a renewal of its commitment to the MENA region, partnering with Dubai Multi Commodities Centre (DMCC), the world’s leading business hub, and the Dubai Government Authority. This strategic partnership will enable DWF Labs to offer a new $5 million growth platform to foster the development of Web3 and blockchain technology companies.
New opportunities and use cases will be unlocked for blockchain and Web3
Although China has been closing its doors to cryptocurrencies and digital assets for some time now, blockchain technology and Web3 do seem to have a place in the nation.
In December, China’s Ministry of Science and Technology had emphasized that emerging technologies behind cryptocurrencies and the decentralized web were of great importance in the country, and the government agency was launching several initiatives to accelerate the application of blockchain technology in industrial development, service management and other key areas.
Some of these initiatives, related to Web3, the metaverse and non-fungible tokens (NFTs), such as the work plan to promote Web3 innovation and development in Beijing and the action plan to build a digital urban system in the Metaverse for Shanghai, demonstrate the nation's interest in exploring and taking advantage of the new opportunities offered by these innovations for technological, economic and social development and growth.
Through Cloudbreak Fund, DWF Labs aims to support the growth and development of promising blockchain and Web3 projects that accelerate innovation in China’s burgeoning digital ecosystem.
