aelf established aelf Ventures with a US$50 million ecosystem fund to invest and support promising projects bridging Web2 to Web3
aelf, a leading layer-1 blockchain network, has announced the opening of its new global hub in Singapore to support the developer ecosystem growth in APAC and beyond.
This expansion underscores aelf’s commitment to supporting Web2 and Web3 developers, with aelf having launched a pioneering initiative offering up to US$150,000 of grants per studio to help Web2 gaming studios transition into the Web3 space. As part of this big move, aelf has also established aelf Ventures with a US$50 million ecosystem fund and is creating a forward-thinking, decentralised autonomous organisation.
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aelf’s new hub, strategically situated in the city’s financial business district, is positioned to accelerate the developer ecosystem’s growth in APAC and beyond. Capitalising on Singapore’s global reputation as a fintech hub with strong blockchain support, aelf gains a distinct advantage in cultivating purposeful collaborations with blockchain developers and digital asset enterprises. Functioning as an instrumental hub, the Singapore office will drive aelf’s dynamic initiatives, including the following notable endeavours:
- Introducing TMRWDAO: aelf is set to launch TMRWDAO, a forward-thinking decentralised autonomous organisation (DAO) that will unite diverse enterprises. With a shared mission to promote cross-industry sharing and collaboration, tmrwdao’s mission is to revolutionise how businesses synergise and innovate within the blockchain ecosystem.
- aelevate Program Launch: aelf’s aelevate gaming program empowers Web2 gaming studios to seamlessly transition to the Web3 landscape. Through this program, aelf will provide grants of up to US$150,000 per studio and support to foster the integration of gaming experiences with the decentralised web.
- aelf Ventures: aelf has launched aelf Ventures with a US$50 million ecosystem fund to invest and support promising projects bridging Web2 to Web3, and innovative blockchain projects on aelf and multichain ecosystems. aelf Ventures is vertical and stage agnostic and will focus on strategic and financial investments.
aelf’s founder, Haobo Ma, shares, “The problem we are currently facing in the blockchain industry is that regular users encounter many challenges to enter. At present, the primary motivation for most users, including many blockchain gamers, is speculation and financial gain, often seeking monetary rewards and bounties. Unfortunately, these users also possess a better understanding of mnemonic phrases, private keys, and the processes to participate in the blockchain space. While there is a space for them, blockchain should also be accessible to ordinary users.”
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“Therefore, we must find solutions that allow regular users to enter, and create the environment for such innovations. These technological developments, such as account abstraction wallets, help make blockchain more accessible as users do not need to remember long alphanumeric codes or complex mnemonic phrases to participate in the Web3 space. Our goal is to enable the transition of current Web2 applications, games, and services to a Web3 environment. The new global hub in Singapore will be instrumental in advancing aelf toward accomplishing this mission,” adds Ma.
The opening of aelf’s new global hub in Singapore marks an exciting chapter in its journey, underscoring its dedication to pushing the boundaries of blockchain technology. As a key global player in the blockchain space, aelf remains steadfast in its pursuit of fostering collaboration, innovation, and growth within the industry.
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