In the thriving world of Web3 and NFT gaming, Alpha Protocol Ventures (APV), a band of crypto venture capitalists, has decided to create a $20 million fund to invest in promising blockchain gaming and digital collectibles endeavors. This promising move reflects the increasing effort to uncover the latent potential of Web3 technologies and the role of poor-chaining gaming and NFTs in broadening the crypto ecosystem’s horizons.
APV has already garnered funding from a number of notable sources, including Ethernity CEP Nick Rose and Vagelis Diamantis,, the founder of APV. The fund plans to explore various projects across the ecosystem, noticeably focusing on gaming and digital collectibles. However, other areas like DeFi and layer 1 and 2 protocols aren’t left behind and come within the allocation ambit of the fund.
Potent real-world problems such as infrastructure, supply chains and data protection are also in the sightlines of the fund. This bodes well for the expansion of blockchain technology’s practical applications beyond mere financial transactions. While the market volatility has often been perceived as a blocker, APV’s approach philosophically contends that a down cycle offers potential for those willing to take calculated risks on projects in their nascent stages. This sentiment hopes to leverage blockchain’s transformative potential to solve real-life problems.
The tapestry of investments into Web3 projects by VC firms and fund managers continues to become denser with sizable returns in the past couple of years. For instance, Animoca Brands declared a $30 million venture into Web3 Neobank Hi, and Vessel Capital revealed a formidable $55 million fund to back similar infrastructure. Meanwhile, cryptocurrency exchange Bitget launched a reported $100 million fund to nurture Asia-based Web3 and blockchain projects.
Even though the crypto market’s cyclical nature and inherent volatility can lead to heightened scepticism about such large investments, the fundamental belief in blockchain’s potential and the price of not taking the plunge seem to be strong enough reasons for APV and other firms to hold on to their optimism. In such a high-stakes environment, only time will reveal the wisdom or folly of their decisions. In the meantime, the seemingly insatiable interest in Web3 technology and blockchain continues to shape the contours of today’s digital landscape.
Source: Cointelegraph
