The blockchain-backed crypto, metaverse and NFT sectors together are being explored and adopted by the Web3 industry worldwide. Near Foundation and Caerus Ventures have launched a $100 million (roughly Rs. 700 crore) fund to support promising projects in the Web3 space. Engineers, manufacturers and developers working in related fields can avail this fund. Near Protocol’s Switzerland-based parent will lead fund governance. Near Protocol is a layer-one blockchain designed to be a community-run cloud computing platform launched in 2020.
While the Web3 sector has often tickled the interests of major investment firms, for Caerus Ventures, this fund is a way to become more actively involved in the sector.
“Web3 technologies are yet to reveal their true value and current trends may change. We are building this partnership to revolutionize the existing multi-tiered entertainment ecosystem, increasing market size while promoting greater equity. Crypto Potato Report said Nathan Pillai, founder of Carus Ventures.
The Nier Foundation, on the other hand, is taking steps to exploit Web3 potential outside the Swiss territory.
Earlier this year, the non-profit foundation launched a regional center in Kenya to accelerate Web3 projects across the continent. This platform is trying to nurture and educate the talented individuals of the country.
African countries have been witnessing a rapid digital revolution over the past decade. Cryptocurrency adoption on the continent grew by 1,200 percent between July 2020 and June 2021, the fastest adoption rate in the world.
“This hub represents a unique opportunity to partner with local talent not only for the opportunities that exist today, but for the opportunities that will arise in the future,” NEAR Foundation CEO Marieke Flement said at the time. , commenting on Projection of Regional Centre.
While the NFT and metaverse sectors have grown in popularity in the recent past, the crypto sector has invested $14.2 billion (roughly Rs. 1,13,500 crore) in the first half of 2022.
