FTX Creates $2 Billion Fund to Invest in Web 3.0 Games and Applications


2 billion dollars to establish itself in the industry

The FTX Platform and its CEO Sam Bankman-Fried are known for large scale operations. Latest initiative: FTX Ventures. This new FTX investment fund will begin operations with no less than $2 billion.

FTX Ventures will be led by Amy Wu, a former partner at the $10 billion venture capital firm Lightspeed.

It was Amy Wu who revealed the existence of FTX Ventures on Twitter:

In an interview granted to our colleagues from The Block, Amy Wu specifies that FTX Ventures will concentrate its investments in Web 3.0 games and applications.

It also discusses blockchain infrastructures (layer 1 and layer 2) and cross-chain protocols, as well as wallets for paying for purchases with cryptocurrencies.

Finally, still with the idea of ​​diversifying its investments as much as possible, FTX Ventures also plans to invest in insurance and security products.

Future investments by FTX Ventures are highly likely to greatly benefit the development of the FTX platform ecosystem, as the two entities are closely intertwined:

“We want to be known for the added value we provide, leveraging FTX’s resources, expertise and global network,” she added.

FTX Ventures now sits alongside funds established by its competitors, such as Binance Labs and Coinbase Ventures by Coinbase.

Moreover, although the seed capital of FTX Ventures is beyond comprehension, it doesn’t come close to Paradigm, which launched a $2.5 billion investment fund last November.

👉 To go further – FTX will spend several million dollars to offer itself an advertisement during the Super Bowl

Newsletter 🍞

Get a crypto news recap every Sunday 👌 And that’s it.

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this item. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

About the Author : Clement Wardzala

twitter-soothsayerdatatwitter-soothsayerdata

Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have been striving to share quality content so that the sector becomes more democratic for everyone.
All articles by Clément Wardzala.


Free subscription

Sing up for the weekly email from Coinews that makes reading the news actually enjoyable. Join us for free

Latest stories

You might also like...