The $20 million Cloudbreak Fund has been established by DWF Labs, a market maker and Web3 investment firm, to support initiatives and founders in Chinese-speaking regions.
The Cloudbreak Fund is dedicated to supporting initiatives in various sectors, such as gaming, social finance, meme currencies, derivatives, and layer-1 or layer-2 blockchain technology.
Hong Kong, China, Macao, Taiwan, and Singapore are among the regions that speak Chinese. Blockchain technology provides novel methods to monetize and improve gaming experiences, priming gaming finance for innovation.
LADY Secures $5M Investment from DWF Labs
DWF Labs has a distinguished history of investing in the Web3 sector. One of its most recent investments is in the Milady Meme Coin (LADYS).
The firm’s confidence in the project’s potential was demonstrated by its $5 million investment in LADYS. The investment in Milady Meme Coin is intended to expand the project’s ecosystem and uncover new opportunities for its development.
This partnership is expected to improve community engagement and collaboration within the meme coin and the broader Web3 landscape, as per DWF Labs.
Their support demonstrates the broader investment philosophy of DWF Labs for Milady Meme Coin. The organization is dedicated to supporting initiatives that exhibit potential and a solid commitment to the community.
The $5 million investment by DWF Labs in LADYS is anticipated to open up new opportunities for engagement and growth.
Growth of Web3 Gaming in 2024
In 2024, the web3 gaming industry is experiencing accelerated growth, which has attracted a more significant amount of VC investment. The funding phases associated with blockchain gaming totaled $1.7 billion last year.
It is anticipated that a substantial portion of the funding was allocated to the 270 blockchain games currently being developed on Immutable.
Polygon Labs, King River Capital, and blockchain gaming firm Immutable announced their collaboration to establish a $100 million gaming fund earlier this year.
Marc Andreessen and Ben Horowitz, the founders of Silicon Valley-based venture capital firm Andreessen Horowitz (a16z), have announced they will invest $30 million in gaming enterprises this year.