New Delhi: Crypto exchange BitGet has launched a $100 million Web3 fund with a focus on the Asian market. The move comes as the exchange seeks to expand its offerings beyond traditional cryptocurrency trading and into the burgeoning world of Web3.
The fund will be used to invest in Web3 projects and startups that are building the next generation of decentralized applications (dApps) and other blockchain-based technologies. BitGet is particularly interested in projects that are focused on decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming.
In a statement announcing the fund, BitGet CEO Sandra Wu said, “We believe that Web3 will be the next major evolution in the internet, and we are excited to be at the forefront of this transformation. With our deep experience in the cryptocurrency space and our focus on the Asian market, we are well-positioned to identify and support the most promising Web3 projects in the region.”
The Web3 fund is just the latest move by BitGet to position itself as a leading player in the Web3 ecosystem. Earlier this year, the exchange launched its own NFT platform, allowing users to mint, buy, and sell NFTs on the Ethereum blockchain.
BitGet is also working on developing its own DeFi platform, which it says will offer a range of financial services, including lending, borrowing, and staking. The exchange has already partnered with a number of leading DeFi projects, including Uniswap and Aave, to provide liquidity and other services.
The launch of the Web3 fund is likely to attract interest from investors and entrepreneurs across Asia, as well as from other parts of the world. With a strong focus on DeFi, NFTs, and gaming, the fund is well-aligned with some of the hottest trends in the crypto industry.
Overall, the move by BitGet is a clear indication that the exchange is committed to expanding its offerings beyond traditional cryptocurrency trading and into the broader world of Web3. As the internet continues to evolve, Web3 is likely to play an increasingly important role in shaping the future of digital commerce and communication, and BitGet appears to be well-positioned to play a leading role in this transformation.
