Bitget, prominent crypto derivatives and copy trading network, has announced the launch of its Web3 Fund with a starting capital of $100 million at the Hong Kong Blockchain Expo. The fund will concentrate on funding venture capital opportunities and exceptional Web3-related businesses to encourage the creation of next-generation crypto ventures.

Bitget’s $100 Million Web3 Fund Focuses on Promising Asian Projects

With the introduction of the Bitget Web3 Investment in 2023, the Bitget exchange will continue to follow its Go Beyond Derivatives approach. This fund aims to promote a favourable perception of the digital currency market and aid in the growth of the Web3 ecosystem. The Bitget Web3 Funds will look for VCs and projects all over the world, but it will give priority to Asian partners who possess a clear roadmap, a skilled workforce, and cutting-edge solutions to challenges that exist in the real world.

As stated by Bitget’s Managing Director, Gracy Chen, during the announcement of the new fund’s launch, the selection criteria for projects have already been outlined by the team of analysts, and they will strictly comply with them. Due to the Web3 space’s quick development, there are a lot of worthwhile initiatives that need assistance to expand and make it into a worldwide sensation, much as Web2 previously did. The Bitget Web3 Initiative seeks to find the initiatives that have the biggest influence on this procedure. The team chooses projects carefully and responsibly since they are well aware of the accountability and responsibility needed when investing in creative initiatives.

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The Bitget platform works to provide a dependable, practical, and secure bridge between the DeFi and CeFi sectors to foster financial innovation in Asia. Currently, several venture capital firms have expressed interest in forming potential partnerships, including Foresight Ventures, SevenX Ventures, DAO Maker, Dragonfly Capital, and ABCDE Capital.

Revolutionizing Sports Sponsorship: Exchange Acquires Web3 Apps, Backs Juventus

Numerous initiatives aiming at accelerating the acceptance of cryptocurrencies have received assistance from Bitget. In recent months, as part of the exchange’s new “Go beyond derivatives” approach, it acquired many Web3 apps and committed to supporting Juventus Women’s Team as a general sponsor and sleeve sponsor for the 2022–2023 season. Bitget is also launching several competitions and events for members of the public to promote both individual efforts and the overall spirit of the community. Bitkeep account, a Web3 accessibility connection with more than 9.5M users, was recently acquire by the exchange in an important entry into the Web3 space.