GBA Capital, a Chinese venture capital (VC) firm, announced a $10-billion pledge to establish a Web3.0 fund. It is believed the announcement was made on December 26, 2023, during the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference, stated Cointelegraph.
Sources revealed that the GBA Capital Web3.0 fund will invest in startups focusing on virtual reality, the metaverse and non-fungible tokens. The funding is expected to transform the Guangdong-Hong Kong-Macao economic area into a meta-asset capital.
Furthermore, Zhongrong is expected to fund Web3.0 project incubation and industrial services in the artificial intelligence field, Cointelegraph concluded.
(With insights from Cointelegraph)
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