DWF Labs, a prominent Web3 investor and market maker, has introduced the $20 million Cloudbreak Fund to support Web3 initiatives and founders in Chinese-speaking regions.
In an official press release shared with Cointelegraph, the fund aims to provide significant investments and strategic resources to accelerate the growth of Web3 projects.
Andrei Grachev, Managing Partner at DWF Labs, elaborated on the motivation behind establishing the Cloudbreak Fund:
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### Targeted Sectors
The Cloudbreak Fund will focus on several critical sectors, including gaming finance (GameFi), social finance (SocialFi), memecoins, derivatives, and layer-1/layer-2 projects. DWF encourages entities within these sectors in Chinese-speaking regions to apply for the fund to harness the necessary resources to “realize their full potential.”
In a written Q&A with Cointelegraph, Grachev stated that the DWF Labs team would thoroughly review each submission and is open to any project in Chinese-speaking regions.
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### Fund Launch Amid Market Turbulence
Addressing the timing of the Cloudbreak Fund’s launch during a period of market volatility, Grachev noted:
Grachev emphasized that this strategic decision aligns with DWF Labs’ “commitment to the Web3 ecosystem.”
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### Web3 Projects Go Mainstream
Web3 technology is attracting increasing attention and understanding of its utility, as demonstrated by the Bali Burning Man-inspired Lampu festival. Cointelegraph Accelerator participant Belong developed a Web3 NFT ticketing platform for the Bali event. This platform enabled organizers and community owners to sell NFT passes for event participation using both fiat and crypto, supported by its token-gated access infrastructure.
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