DWF Labs unveils $20 million fund for Chinese-speaking Web3 projects

July 4, 2024

Key Takeaways

DWF Labs launches $20 million Cloudbreak Fund for Web3 initiatives in Chinese language-speaking areas
Fund targets GameFi, SocialFi, Memecoins, Derivatives, and Layer 1/Layer 2 infrastructure initiatives

DWF Labs has launched the $20 million Cloudbreak Fund to assist Web3 initiatives in Chinese language-speaking areas. The fund goals to spend money on promising initiatives throughout GameFi, SocialFi, meme cash, derivatives, and blockchain infrastructure initiatives.

“We’ve got been working with founders in Chinese language-speaking areas since 2018. I’m personally an enormous fan of their tradition and intense, diligent work ethic,” stated Andrei Grachev, Managing Accomplice at DWF Labs. “Initiatives in Chinese language-speaking areas have skilled great development in current months and require devoted assist to comprehend their full potential. To satisfy this want, Cloudbreak was created, a fund designed to unlock the potential of rising initiatives in Chinese language-speaking areas.”

This initiative follows DWF Labs’ current partnership with DMCC to supply a $5 million development platform for Web3 and blockchain companies within the MENA area.

DWF Labs is a Web3 investor and market maker providing monetary backing and entry to over 700 initiatives. The corporate gives liquidity companies, pockets integrations, hackathons, funding initiatives, and grant packages for varied blockchains together with TON, Algorand, Gala Chain, and Klatyn.

In line with information aggregator DefiLlama, the most recent funding of DWF Labs was directed at Zentry, a SocialFi and GameFi entity. Notably, over 50% of all their investments are centered on layer-1 blockchains, gaming, and decentralized finance purposes.