Based Bitcburt Inc. announced the creation of a $20 million fund. The structure will focus on investing in Web3 projects.
The fund will support startups in metaverse, Gamefy and NFT. The firm plans to focus its efforts on partnerships with U.S. entertainment and media companies.
“Based in Dubai, we will invest with a focus on America, an important Web 3.0 market, while maintaining a global mindset,” said Bitcburt CEO.
According to the report, the company has funded more than 20 startups, including STE from Australia’s Find Satoshi Lab. In May, the venture capital arm of bitcoin exchange Binance announced a strategic investment in the project.
Framework Ventures and 6th Man Ventures launched structures with similar goals.
Recall that musician and producer Pharrell Williams called blockchain and decentralized Web 3.0 technologies the key to a revolution that would rock the music industry, the financial system and world governments.