The Blockchain Founders Fund (BFF) which is based in Singapore, launched a new fund this week. They managed to raise $75 million which they plan to use to help upcoming cryptocurrency and Web3 related projects.
This is an indication that traders and developers are interested in maintaining the momentum taking place in the market for digital assets. Investors include Appworks, NEO Global, Sandbox CEO Sebastien Borget, and Octava to name a few. BFF has already invested capital in 11 different projects This includes second layer derivatives trading, a DeFi protocol, and many play-and-earn video games.
The main focus of the BFF is on cryptocurrency, metaverse, and Web3 for blockchain. The Fund has an extra $5 million in reserves which it can deploy to startups that are profitable. One of the main investment considerations is operational experience. The Fund looks at all factors and products which will become trendsetters in the cryptocurrency space.
In spite of a massive selling spree in the crypto sector which reached its peak on Monday, smart investors are convinced that digital assets are worthy. They are investing in areas that they expect will reshape the global digital economic sphere by 2030.
Venture capitalists and funding have a proven track record of being dedicated to the blockchain sector. This was very evident in 2021 despite sharp fluctuations in the price and cost of digital assets. From January through October 2021, over $17 billion has been invested in blockchain and related projects.
