Bitrue released a news release recently stating that the fund would target industries like GameFi, Decentralized Physical Infrastructure Networks (DePIN), Decentralized Finance (DeFi), Real World Asset (RWA) tokenization, and artificial intelligence (AI).
Supporting Web3 Innovation with Bitrue
The fund’s objectives are to offer both monetary assistance and entry to Bitrue’s vast business network and knowledge. The goal of this all-encompassing strategy is to assist startups in overcoming the different obstacles they may encounter in their development stages.
Apart from providing finance, Bitrue Ventures intends to release research findings that are openly accessible. By educating customers about the industry’s future and providing guidance to development teams, these reports hope to create a more informed and ready-made market environment.
The projects in the AI, RWA tokenization, GameFi, DePIN, and DeFi sectors will be the main focus of the grant selection criteria. These regions are currently drawing a lot of attention from institutional investors as well as the general public, and it is believed that they have great growth potential.
The project of Bitrue Ventures is in line with the growing amount of money that institutional investors are contributing to the web3 industry. In order to strengthen Bitrue’s standing as a key participant in the cryptocurrency ecosystem, the fund can present itself as a backer of initiatives and technology.
$1.9 billion is raised in Q1 by Web3 startups.
According to a survey released by Crunchbase in April, web3 startups reported raising around $1.9 billion during the first quarter of 2024, which is a noteworthy 58% increase from the previous quarter.
The report’s author, Chris Metinko, observed that investors’ investment strategies have changed as they have become more focused on the AI industry. There were 346 transactions that contributed the $1.9 billion investment.