Venture capital firms Gate Ventures and Boon Ventures, in collaboration with Movement Labs, have announced a $20 million fund aimed at supporting Web3 startups. The focus of the fund is on projects that utilize the Move programming language and work on bridging interoperability between the Move network and Ethereum-compatible (EVM) applications.
According to the announcement on October 13, the fund will invest in a variety of Web3 areas, including decentralized finance (DeFi), GameFi for managing in-game assets and NFTs, and solutions that enable the transfer of data and assets between Move and EVM ecosystems.
Startups benefiting from this initiative will have access to mentorship programs, hackathons, and the opportunity to join a research grant program that focuses on blockchain interoperability.
Summary Review: Gate Ventures, Movement Labs, and Boon Ventures have launched a $20 million fund to support Web3 startups, with a focus on Move–based protocols and their interoperability with Ethereum–compatible applications. The fund will invest in DeFi, GameFi, and NFT-related projects, providing participating startups with mentorship, hackathons, and access to research grants aimed at blockchain innovation.
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