First target investments include gamefi wallet solution Me3, metaverse and game developer Skyark Chronicles and NFT inter-chain platform HAVAH
BORANETWORK (President: Gyehan Song) announced on November 10, 2022 that they have launched a US$30 million strategic investment fund known as the “BORA Ecosystem Fund” with Widus Partners, a global investment firm. The fund will primarily invest into technologies developing Web3.0 gaming solutions, with the ultimate goal to facilitate the growth of the BORA ecosystem.
Widus Partners, a global investment firm established in 2010, makes principal investments into domestic and overseas companies and also offers strategic advisory capabilities for corporates, enterprises and startups seeking their next transnational stage of growth. Within the web3 space, Widus has also worked with a broad range of early stage and institutional blockchain projects across Asia, leveraging their extensive strategic investment network and outreach capabilities.
Latest Fintech News: OTC Markets Group Announces Acquisition of EDGAR Online
BORA Ecosystem Fund has selected an exclusive batch of companies for the fund’s inaugural investment targets – Me3, a biometrics-based GameFi wallet developer; Skyark Chronicles, a global Web3.0 game builder and metaverse business; and HAVAH, an NFT multi-side chain platform.
Me3 is a wallet developer based in Southeast Asia and is deploying a suite of solutions to bring users to Web3. Their wallet and infrastructure solutions are part of Play3 by EVOSVERSE, a major investment and commercial partner of Southeast Asia’s largest esports brand, EVOS.
SkyArk is a Singapore-based global game builder, leading an O2O (Online to Offline)-based metaverse project of next-generation sandbox type. In particular, they collaborate with the Singaporean government to introduce blockchain technology into everyday life, getting further spotlight as they were funded by an investment affiliate of Binance, the world’s biggest cryptocurrency exchange, in addition to traditional global organizations and companies in the banking and telecom sectors. SkyArk plans to organize a hackathon, incubator and accelerator program with major crypto exchanges including OKX in order to boost the Asian blockchain ecosystem.
HAVAH, a multi-sidechain platform supporting inter-chain NFTs, is an ambitious web3 project integrating the capacity of WEB3 SOLUTIONS, the leader of the project; ICONLOOP, a leading blockchain development company; and 2bytes, a Web3 game development company.
Latest Fintech News: CoinShares Confirms Robust Financial Health and Quantifies Limited Exposure to the FTX Exchange
“I am delighted to be able to launch the Bora Ecosystem Fund for the growth of BORA ecosystem together with Widus Partners,” said Youngjun Lim, CBO at BORANETWORK. “We will invest in a variety of promising Web3.0 content companies and founders to catalyze the growth of our ecosystem.”
“BORA Ecosystem Fund will be a strategic opportunity for BORANETWORK to scale the development of their platform ecosystem and cater to a broader global audience,” said Jonathan Lee, Head of Digital Assets at Widus Partners. “We are grateful for the opportunity to connect BORANETWORK with prospective projects through our own global network and to look forward to accelerating the build-up of the BORA community and ecosystem.”
Earlier in February this year, BORANETWORK announced during ‘BORA Partners Day’ their plans to execute investments to expand their BORA ecosystem, and in August, announced that they would collaborate with Polygon, an Ethereum scaling platform, to further facilitate this goal. Since then, BORANETWORK has been actively making investments into various game, entertainment and sports related content.
Latest Fintech News: Aplo Is Now Officially an Agent Payment Service Provider Boosting the EU Crypto Ecosystem
[To share your insights with us, please write to sghosh@martechseries.com]
