Bitrue Ventures to Introduce $40 Million Investment Fund for Web3
Bitrue Ventures fund has opened a new funding account. The platform has allocated $200,000 directed towards Web3 startups.
Bitrue Ventures’ Launches Fund to Support Web3 Firms
Bitrue Ventures is a research and investment wing of the eponymous crypto trading platform. The total fund allocated to the new account is valued at $40 million that are dedicated to support Web3 firms.
This fund is distributed among a number of Web3 startups and developers. All of the participating startups can receive up to $200,000. The funding will allow projects to allocate funds without participating in the utility process. Bitrue is also offering support for Web3 projects in addition to financial support.
The funds range from developer assistance, industry networking, and administrative features and more. The firm has retained that it is invested in assisting the platform to succeed and will allocate resource assistance for the startups in the areas where they are facing challenges.
Ryan Chan, the principal investor at Bitrue Ventures retained a positive stance on the ongoing crypto trends.
Bitrue Ventures Asks Web3 Projects to Apply for Funding
Bitrue Ventures head has welcomed the startups hailing from the Web3 sector to apply for funding. The platform has also outlined 5 business models that are most likely to succeed. The list of verticals is inclusive of AI, GameFi, DePIN, RWA, and DeFi.
The firm has also noticed that project building within the aforementioned disciplines has better prospects of qualifying for funding and highly encouraged to reach out.
Chan also stated that demand for real-world tokenization (RWA) has solid utility and has the potential to pave the way for the mass adoption of cryptocurrencies. He further stated that there is a lot of debate around the integration of Web3 and artificial intelligence.
Outside of these ventures, the firm is looking to investors in projects that can generate the network effect. This quality determines if a particular project has the potential to retain investment demand among investors and users for a long-term duration.
Bitrue Ventures referred to a recently published report where all of the funding details are included. The firm has also initiated a pilot where Cardano-based projects such as WingRiders and Liqwid Finance collected funds.
It is important to mention that Bitrue Ventures-funded projects get an automated listing on their exchange platform. It grants exposure to 10 million user base and access to marketing services from Bitrue Ventures.
Bitrue Ventures Head Advises Startups to Aim for Innovation
Bitrue Ventures advised startups to stick with the core values and refrain from conforming to the latest trends. He stated that it does not matter if their ideas are not in line with the current wave but it is important if they have the next wave potential.
He further stated that a project with an innovative solution and good idea that they are able to execute properly is sure to get attention accordingly.
As of 24th April, hackers attacked the Bitrue wallet and siphoned $23 million in cryptocurrencies. Bitrue has retained that this incident accounted for less than 5% of the overall reserves of the trading platform.
The platform noticed that all wallets are secure and not compromised. The platform also notified the investors about an ongoing security investigation into the attack and reassured customers about sharing further details about the progress.
The trading platform has also retained that all investors will be compensated in full. As per this announcement, the listed assets that were affected by the attack were ETH, Shiba Inu, Quant, Holo, Gala, and Polygon. The platform was founded in 2018 in Singapore and has been rated as 6 top trusted platforms across the globe by investors.
Bitrue exchange has offices located in the USA and Europe. There are around 800 spot trading-pairs listed on the platform. Furthermore, the platform is set to launch a leveraged ETF comprising of more than 220 altcoins and 110 top digital assets. Investors can avail up to 20% trading fee discount when using BTR token issued by Bitrue exchange.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
