Gate Ventures (a global venture capital firm specializing in blockchain), Movement Labs (a leader in Move-based blockchain technology), and Boon Ventures (an emerging technology startup investor) have announced a $20 million investment aimed at transforming Web3. announced the establishment of a dollar fund. space. This partnership will invest in cutting-edge projects and accelerate the development of Move-based blockchain technology.
The fund will focus on four key areas:
1.) Movement Labs, Gate Ventures and Boon Ventures form strategic partnership to power next generation Move-based blockchain projects
2.) Accelerate the adoption of Move-based blockchain solutions
3.) Enhancing security and performance in distributed networks
4.) Support for projects that bridge the Move and EVM ecosystems
5.) Drive innovation in Web3 infrastructure and applications
This partnership leverages each company’s unique strengths.
1.) Gate Ventures brings extensive resources, global networks, and deep experience in Web3 investing, enabling strategic partnerships and growth opportunities.
2.) Movement Labs provides deep expertise in Move-based blockchain technology, infrastructure, and ecosystem building.
3.) Boon Ventures has a proven track record of supporting innovative startups across multiple sectors through funding, mentorship, and strategic guidance.
To help achieve its goals, the Fund will undertake several key initiatives.
1.) Organize a global hackathon to stimulate innovation in Move-based technology and attract top talent.
2.) Set up a mentorship program that connects industry veterans with promising Web3 startups to provide guidance and expertise.
3.) Create a research grant program to advance blockchain interoperability solutions and foster collaboration across ecosystems.
4.) Host quarterly thought leadership summits to address pressing challenges in the Web3 space and drive collective progress.
The fund will commit $20 million and partners will be committed to fostering innovation and advancing the Web3 space. They provide the latest information on investments, collaborations, and cutting-edge technologies that define the future of Web3, blockchain, and decentralized applications.
Main quotation:
“This $20 million funding marks an important milestone in our mission to drive forward-thinking solutions in the Web3 ecosystem. By collaborating with Movement Labs and other forward-thinking projects, we is paving the way for a decentralized technology future.”
-Kevin Yang, Managing Partner, Gate Ventures
“This $20 million in funding is a game-changer for the Move ecosystem. It is a powerful validation of what we are building at Movement Labs. We are setting standards. The funding will specifically be used to support builders building the future of secure decentralized finance, fully on-chain gaming and consumer, and decentralized physical infrastructure initiatives. ”
-Luci Manche, Co-Founder of Movement Labs
“This is the beginning of a great journey moving forward in the Web3 space. It is not about short-term goals, but about building a promising future for a decentralized society.”
– Teerus Boon-Long, Boon Ventures CEO
