MoonPay established a venture capital department to invest in Web3 infrastructure and other fields
On August 29th, Web3 infrastructure company MoonPay established an investment department that will focus on early-stage startups in the Web3, gaming, and related fintech fields.
The investment firm is called MoonPay Ventures and will primarily invest between $100,000 and $1 million, targeting seed and Series A funding. Abhay Mavalankar, Vice President of Corporate Development and Investment at MoonPay, stated that the fund has already invested in over 25 companies, including BCB Group, Ledger, BRUT, BeatClub, absolute labs, Create/OS, BridgeTower Capital, and Mythical Games.
Hong Kong's Financial Secretary Allocates $50 Million to Accelerate Web3 Ecosystem Development
Hong Kong's Financial Secretary, Paul Chan Mo-po, has expressed his support for blockchain technology and its potential to revolutionize various industries, including finance, commerce, and supply chain management. He highlighted the emerging sectors within Web3, such as NFTs, GameFi, Play-to-Earn gaming, and immersive entertainment, as the next generation of digital entertainment.
CEO of Cyberport responds to the HK$50 million financial appropriation plan
Adrian Cheng, CEO of Hong Kong Cyberport, said in an interview reporters that the HK government's budget allocation of HKD 50 million to Cyberport for Web3 development is not a specific enterprise subsidy plan, but is used for overall talent cultivation, industry development, and promotion. This funding plan will be used within two years, with most of the funds being used in the first year.
Secretary for Innovation, Technology and Industry of Hong Kong: Cyberport Web3 Base brings together more than 170 companies to settle in
Sun Dong, Director of the Hong Kong Innovation and Technology Bureau, spoke at the opening ceremony of the Computer Communications Festival today, stating that the conference has added the Web3 Asia Blockchain Exhibition and Seminar for the first time this year, providing a platform to promote the development of blockchain technology and third-generation internet-related technology fields. Cyberport has established the Cyberport Web3 Base at the beginning of this year, which has attracted more than 170 related companies to settle in. The 2021-2022 Budget has also allocated HKD 50 million to Cyberport to accelerate the development of its ecosystem.
Sun Dong pointed out that in order to help promote Hong Kong as a green innovation and technology city, the conference will continue to hold the 5G and Green Technology Life Pavilion, as well as display the smart campus solutions designed by students in the Smart Technology Enhancement Pavilion. This is in line with the concept of digital economy and smart city development that the SAR government is vigorously promoting.
Biconomy Is Developing a Multi-Chain Verification Module That Supports One Signature To Complete Authorization on Multiple Chains
August 25th, Web3 blockchain development tool provider Biconomy is developing a multi-chain verification module that supports authorization completion on multiple chains with a single signature. Smart accounts can be deployed and set up on multiple chains or Rollups, and session keys for authorization can be delegated across multiple chains.
Encryption Fund MT Capital Received $10 Million Investment From BM Fund, a Canadian Family Office
BM Fund, a well-known family office in Canada, announced a $10 million investment in MT Capital.
Momentum Capital (MT Capital for short) is a native cryptocurrency fund headquartered in the San Francisco Bay Area. It was initiated by multiple senior investors who entered the cryptocurrency industry early, and the main team members have invested in many well-known projects.
Carmen, the founder of BM Fund, said: "MT Capital's partner Eason has achieved significant returns for us in many previous collaborations. His professional investment vision is an important reason why we decided to invest in Momentum Capital during the bear market."
friend.tech Renames Shares to Keys
Web3 social application friend.tech will rename Shares to Keys, indicating that the original name was a placeholder during development and we believe that Keys better reflects its purpose as an in-app project for unlocking friend chat rooms.
Data: Money Injected into Web3 Projects Dropped 30% in Past 12 Months
According to data from Cointelegraph Research, the sluggish market has led to a decrease in enthusiasm for investing in cryptocurrencies, with a 30% drop in funds injected into Web3 projects in the past 12 months. <br>
Web3 Social Data Portal Port3 Network Closes Multi-Million Dollar Funding Round, Bringing Total Funding to $10 Million
Web3 social data portal Port3 Network announced the completion of a new round of financing worth millions of dollars, with participation from EMURGO, Adaverse Accelerator, Gate Labs, and others, bringing the total amount of financing to $10 million. In addition, Port3 Network has received support from Binance Labs, Mask Network, and Aptos.
The new round of financing and grants will be used to promote its on-chain interactive automation language BQL. It is reported that BQL can achieve various on-chain interactive workflows, and users can simply click to run and execute complex interactions such as transactions and arbitrage.
In February, Port3 Network announced the completion of a $3 million seed round of financing, led by KuCoin Ventures, with participation from Jump Crypto, SNZ, Block Infinity, Dragon Roark, ViaBTC, Cryptonite, Lapin Digital, Cogitent, and Momentum6. The new funds will be used to increase Port3's market share and customer base, which will help improve the data quality of the portal website.
It is reported that Port3 Network was established in 2022 and is a portal website for obtaining and aggregating Web3 social data. Port3's SoQuest application allows projects to incentivize users to share their data through tasks and rewards to drive traffic. The Port3 team currently has 15 people.
