Quick take:
Bora Network has teamed up with Widus Partners to launch its first Gamefi fund. The two companies announced a $30 million fund that will invest in web3 products.
The fund has already selected the biometric-based Gamefi wallet developer Me3, Skyark Chronicles, a company focusing on Web3 games and the metaverse, and the multichain NFT platform.
Non-fungible tokens (NFTs) are blockchain-based digital files that provide proof of ownership for digital collectibles, virtual merchandise, JPEGs and virtual real estate. In Havah’s case, the company offers NFT profile pictures (PFPs) that can be used across multiple blockchains.
Commenting on the investments the find is targeting, Youngjun Lim, CBO at Bora Network said: “I am delighted to be able to launch the Bora Ecosystem Fund for the growth of the Bora ecosystem together with Widus Partners. We will invest in a variety of promising Web3 content companies and founders to catalyse the growth of our ecosystem.”
Web3 is a blockchain-based internet that focuses on user-centric applications, decentralisation and trustless communications. Bora network is looking to build its ecosystem around blockchain games, NFTs and metaverse, the three primary segments of web3.
In August, Bora Network said it will be working with the Layer 1 Ethereum scaling protocol Polygon to expand its ecosystem. It has since invested in several gaming and entertainment projects to further this goal.
Jonathan Lee, Head of Digital Assets at Widus Partners commented: “Bora Ecosystem Fund will be a strategic opportunity for Bora Network to scale the development of their platform ecosystem and cater to a broader global audience. We are grateful for the opportunity to connect Bora Network with prospective projects through our own global network and look forward to accelerating the build-up of the Bora community and ecosystem.”
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