Alpha Protocol Ventures Dives into the Web3 Ecosystem
A group of cryptocurrency venture investors is taking a leap into the future of gaming and digital collectibles. Their new fund, amounting to $20 million, is targeted towards undervalued Web3 companies and projects, focusing primarily on blockchain gaming and NFTs.
Web3: The Next Frontier for Venture Capitalists
Vagelis Diamantis, the CEO and founder of APV, shares the company’s broad vision for the Web3 space. “While our primary focus will be gaming and collectibles, we will also keep an eye on decentralized finance and layer protocols,” said Diamantis.
The CEO further emphasized their interest in real-world solutions, “We are on the lookout for projects addressing challenges in supply chains, data protection, and infrastructure.“
Who’s Backing APV’s Vision?
Among those who contributed to the fund are Nick Rose, CEO of Ethernity, Web3 investment heavyweight Morningstar Ventures, and a selection of Web3-focused angel investors.
Having previously held the CFO position at Ethernity, Diamantis highlighted the potential gems within the blockchain ecosystem. He mentioned the likes of Polygon, Polkastarter, Axie Infinity, and Ethernity as undervalued projects with great potential.
Crypto’s Dynamic Investment Landscape
Despite the potential setbacks of a prolonged bear market, Diamantis remains optimistic. He believes that these cycles provide golden opportunities for investors. “It’s a whole new asset class that we think will only grow exponentially,” he remarked.
Undervalued projects and innovative blockchain solutions are on APV’s radar, as they plan to double down on their investments in these areas.
Other VC Firms Also Eying Web3
The trend is clear. More venture capitalists are turning their attention to Web3 projects. Animoca Brands, for instance, announced a whopping $30 million investment in Web3 neobank Hi earlier this year.
Additionally, Vessel Capital, another major player, unveiled a $55 million fund to back Web3 projects. Not to be outdone, cryptocurrency exchange Bitget announced a staggering $100 million fund targeted at Web3 projects in Asia.
The future of blockchain gaming, NFTs, and Web3 projects looks brighter than ever with the influx of these investments.
