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Hong Kong Web3Hub Fund Officially Launched Today

Hong Kong Deputy Secretary for Justice Horace Cheung announced the launch of the Hong Kong Web3Hub Fund at the "2023 Hong Kong Web3 Festival" sub-venue four of the "MetaEra x BitMart Special Session: Where are the Opportunities of the Metaverse" forum. The fund has a scale of $10 million and aims to encourage more companies to settle in Hong Kong by combining blockchain and artificial intelligence to provide a convenient and cost-effective platform. The Hong Kong Web3.0 Association was established on April 11, and the Web3Hub Fund will support more overseas Web3.0 companies to settle in Hong Kong. The fund will be chaired by Hong Kong Financial Secretary Paul Chan, and the management committee will be composed of experts from the fields of financial technology, blockchain, and cryptocurrency. The fund has received applications from multiple Web3.0 projects from the US, Europe, Singapore, and other places, involving areas such as DeFi, NFT, metaverse, Dsocial, and more. The fund plans to begin investing and supporting these projects in the second half of this year.

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