OKX Ventures shows investments in 4 Altcoins

OKX Ventures, the investment arm of Web3 technology company OKX, has released its bi-monthly investment report for May-June 2024. The report highlighted strategic investments in four altcoin projects – Bedrock, Codeta, Goplus and Nubit.

Firms like OKX Ventures and Binance Labs generally invest in early crypto startups that haven't yet launched altcoins. However, community members believe that investments from such companies will soon lead to takeoff or tokenization events.

Why OKX Ventures invested in these 4 Altcoin projects

Leading the investment lineup is Bedrock, a multi-asset liquid recovery protocol. This platform has improved digital asset protection solutions. In partnership with industry startups such as RockX, Babylon, EigenLayer and IoTeX, Bedrock has launched various unitokens such as uniBTC and uniETH.

These tokens reward users for submitting to affiliate networks. What's more, Bedrock removes minimum deposit requirements, democratizing access to rewards.

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Next, Codata is a project that claims to be the first decentralized data protocol for developers, protocols and artificial intelligence applications. It aims to enhance data transparency and integrity in the crypto ecosystem by providing essential metadata annotation capabilities. The protocol ensures data integrity and reliability by integrating AI and community-verified methods, building trust and increasing scalability in blockchain technologies.

On the security front, GoPlus introduces comprehensive security coverage for Web3, protecting every stage of the transaction lifecycle. As an open and license-free platform, GoPlus provides users with advanced tools to secure their activities across various blockchain environments. An on-chain firewall, capable of blocking high-risk transactions in real time, greatly strengthens ecosystem security.

Finally, Nubit is a project that calls itself a secure and scalable Bitcoin data access layer. It overcomes significant data usage restrictions in the Bitcoin network, increasing its ability to support applications such as standard numbers and Layer-2 solutions. Using advanced consensus mechanisms and Data Availability Sampling (DAS), Nubit ensures data integrity and availability, greatly improving data retrieval efficiency.

Last month, Nubit raised $12 million in an investment round led by Polychain Capital. However, OKX Ventures did not disclose the financial terms of these investments.

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Nevertheless, the company's investments demonstrate its deep faith in the growth potential of the crypto sector.

“Positive momentum is growing in the crypto industry, driven by technological innovation, increased institutional investment, the macroeconomic environment, growing adoption and the development of the regulatory environment,” OKX Ventures said.