FTX launches $2B venture fund focused on Web3
Bringing the world to Web3
Cryptocurrency exchange FTX has announced the launch of a $2 billion venture capital fund called FTX Ventures which will focus on advancing blockchain and Web3 adoption in areas including social, gaming, fintech, software, and healthcare.
FTX has hired former Lightspeed Ventures partner, Amy Wu to lead the fund, as well as the gaming, merger and acquisitions, and commercial initiatives of FTX.
“With FTX Ventures, we are looking to support entrepreneurs building generational businesses. We're particularly excited about web3 gaming and its ability to bring mainstream audiences into the ecosystem," said Wu.
It’s exciting to see companies like FTX continue their focus on expanding the Web3 ecosystem. In 2021 alone, over 1,700 venture capital deals in the crypto space occurred, funding these startups, projects, and protocols with $25.1 billion in financing.
For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇