DWF Labs Launches $20M Cloudbreak Fund for Chinese Projects

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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July 4, 2024 00:17 EDT

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DWF Labs, a market maker and Web3 investment firm has launched the $20 million Cloudbreak Fund to support projects and founders in Chinese-speaking regions.

The Cloudbreak Fund aims to support initiatives in various sectors, including gaming, social finance, meme coins, derivatives, and layer-1 or layer-2 blockchain tech.

DWF Labs remains a strong supporter of the Web3 industry through times of market fluctuations. To show our commitment, we’re launching our $20 million USD Cloudbreak Fund to empower promising Chinese-speaking region projects and founders with substantial investments and strategic… pic.twitter.com/Uhdzytl9aN

— DWF Labs (@DWFLabs) July 4, 2024

Chinese-speaking regions include Hong Kong, China, Macao, Taiwan and Singapore. Gaming finance is an area ripe for innovation, with blockchain technology offering new ways to monetize and enhance gaming experiences.

DWF Labs Invests $5M in LADY

DWF Labs has a notable track record of investments in the Web3 space. One of its recent investments is in the Milady Meme Coin (LADYS). The firm injected $5 million into LADYS, signaling its confidence in the project’s potential. The investment in Milady Meme Coin is aimed at unlocking new opportunities for the project’s development and expanding its ecosystem. According to DWF Labs, this partnership is set to enhance collaboration and community engagement within the meme coin and broader Web3 landscape.The support for Milady Meme Coin shows DWF Labs’ broader investment philosophy. The firm is committed to backing projects that demonstrate potential and a strong community focus. DWF Labs $5 million investment in LADYS is expected to pave the way for new avenues of growth and engagement.

Web3 Gaming Growth 2024

In 2024, web3 gaming is growing rapidly with the space attracting more VC investment. Last year, it is estimated that blockchain gaming related funding rounds reached $1.7 billion. It is estimated a significant part of the funding flowed to the 270 blockchain games in development on Immutable.

Earlier this year, King River Capital, blockchain gaming firm Immutable and Polygon Labs announced they had teamed up to launch a $100 million gaming fund.

Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) founded by Marc Andreessen and Ben Horowitz said it is investing $30 million in gaming startups this year.