Near Foundation, Caerus Ventures Launches $100 Million Fund to Support Web3

The Web3 industry, which combines the fields of cryptocurrency, metaverse and blockchain-powered NFTs, is being explored and adopted around the world. Near Foundation and Caerus Ventures have launched a fund of $100 million (approximately Rs 700) to support promising projects in the Web3 space. Engineers, creators, and developers working in related fields can benefit from this grant. The Swiss-based parent company of Near Protocol will lead the management of the fund. Proximity Protocol is a layer one blockchain designed as a community-run cloud computing platform, launching in 2020.

While Web3 . Area has often appreciated the fancies of the investment majors, for Caerus Ventures the fund is a way to enter the field more actively.

“Web3 technologies have yet to reveal their true value and change current trends. We are forging this partnership to help revolutionize the existing multi-tiered entertainment ecosystem, increasing market size while promoting greater equity.” Crypto Potato Report quoted Nathan Pillai, Founder of Caerus Ventures, as saying.

On the other hand, the Near Foundation has been taking steps to tap into the potential of Web3 outside of the Swiss region.

Just earlier this year, the nonprofit launched a regional center in Kenya to accelerate Web3 projects across the continent. The foundation is looking to nurture and educate talented individuals in the country.

Over the past decade, African countries have experienced a rapid digital revolution. Of the continent accept cryptocurrencies increased 1,200 percent from July 2020 to June 2021, the fastest adoption rate in the world.

Marieke Flament, CEO of the NEAR Foundation, said: “This center represents a unique opportunity to partner with local talent not just for the opportunities we know exist today. present but also for uncreated opportunities in the future”. , Comments on launch of the regional center.

While brand in the areas of NFT and metaverse that have skyrocketed in recent times, the cryptocurrency sector has pocket investment is $14.2 billion (about 1,13,500 crore) in the first half of 2022.

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