Layer1 blockchain aelf announced the launch of its venture capital arm, aelf Ventures, with an aelf Ecosystem Fund of $50 million to support Web3 innovation projects.
The fund is focused on supporting companies transitioning from Web2 to Web3 and investing in promising blockchain startups and established crypto businesses in areas including, but not limited to, gaming, DeFi, NFT and public goods.
aelf Ventures has invested in Crystal Fun, a decentralized Web3 gaming ecosystem, and Mythic Protocol, a collaborative entertainment protocol. In addition, aelf Ventures has also incubated Portkey, a social recovery account abstraction wallet; eBridge, a cross-chain bridge; Forest NFT, an NFT marketplace; DEX Awaken Swap, an IDO platform; and BeanGo Town, a casual NFT game.
According to TokenInsight, the price of aelf ($ELF) has risen by 3.07% in the past hour, trading at $0.320869 now.
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