Nelixcrypto launched a $50 million fund to develop web3 projects

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Crypto Regulation
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Nelixcrypto's venture capital arm announced the launch of a $50 million fund focused on DeFi, NFT, games, meta universes and social networks. Partners were DST Global Partners and Breyer Capital, writes The Block.

Unnamed private equity funds, family offices and corporations also provided funds.

The structure will support startups at all stages of development.

Initially, funds from the fund will be allocated to 14 participants in the fourth season of Nelixcrypto’s incubation program.

Previously, the venture capital division supported about 500 startups, including Polygon, Perpetual Protocol, and Dune Analytics.

As a reminder, former Nelixcrypto top executives launched a $10 million fund with a focus on meta-universes.

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Simon Calder

Simon is outgoing young lad who likes adventures and discovering new things. Despite his boring life, He loves writing about cryptocurrencies and exploring what blockchain technology can do for the coming digital world where all adventures will be virtual.