DWF Labs launched a $20 million fund for Web 3 projects in China
DWF Labs, a Web3 investor and market creator, has launched a $20 million Cloudbreak Fund to support Web3 projects and founders in Chinese-speaking regions.
According to the official press release shared with Cointelegraph, the fund is designed to provide significant investments and strategic resources to accelerate the development of Web3 projects.
Andrei Grachev, Managing Partner at DWF Labs, explained the rationale for establishing the Cloudbreaks Fund:
“Projects in Chinese-speaking regions have seen significant growth in recent months and require special support […] To meet this demand, Cloudbreak was created, a fund designed to unlock the potential of emerging projects in Chinese-speaking regions.
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Target sectors
The Cloudbreaks Fund supports several key sectors, including GameFi, SocialFi, memecoins, derivatives, and Tier-1/Layer-2 projects.
Chinese-speaking regions working in these sectors are encouraged by DWF to apply for the Cloudbreak Fund to receive the resources needed to “realize their full potential”.
In a Q&A with Cointelegraph, Grachev explained to applicants that the DWF Labs team thoroughly evaluates each submission and is open to any project in Chinese-speaking regions.
“We encourage these projects to apply and look forward to building them together.”
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A fund was launched in the market turmoil
Grachev explains the decision to launch the Cloudbreaks fund during market turmoil:
“The launch of the Cloudbreak Fund comes at a critical time when the market is experiencing a downturn. We hope that this fund will renew the ability of projects and their desire to continue building despite the current challenges.”
Grachev emphasized that the strategic move is in line with DWF Labs' “commitment to the Web3 ecosystem.”
“Our goal is to support innovative and promising Web3 projects and ensure they have the resources they need to thrive and succeed in these times.”
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Web3 projects are one of the main ones
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The platform allowed organizers and community owners to sell NFT passes for event participation in fiat and crypto, with token-secured access infrastructure.
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