DWF Labs, an influential player in the Web3 domain and a market maker, has recently unveiled the Cloudbreak Fund, a new initiative endowed with $20 million to bolster Web3 ventures and entrepreneurs in regions where Chinese is the predominant language.
The launch was announced through a press statement distributed to Cointelegraph, highlighting the fund’s mission to provide significant financial backing and strategic support to accelerate the development of Web3 initiatives.
Andrei Grachev, the Managing Partner at DWF Labs, shed light on the motivation for creating the Cloudbreak Fund, stating:
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**Focal Areas:**
The Cloudbreak Fund is set to invest in a variety of pivotal sectors, such as gaming finance (GameFi), social finance (SocialFi), memecoins, derivatives, and foundational blockchain technologies (layer-1/layer-2 projects).
DWF Labs is actively inviting entities from Chinese-speaking locales, operating within these domains, to seek funding from the Cloudbreak Fund to access necessary resources “to realize their full potential.”
In a detailed Q&A session with Cointelegraph, Grachev elaborated that the DWF Labs team is committed to a meticulous review process for each proposal and remains receptive to all projects emanating from Chinese-speaking areas.
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**Fund Inception During Market Fluctuations:**
Grachev provided insights into the decision to introduce the Cloudbreak Fund amidst market fluctuations, emphasizing that this strategic initiative is in line with DWF Labs’ dedication to nurturing the Web3 ecosystem.
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