The cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. now has its own venture capital capital is most commonly defined as the large sum of money you would use to invest. division that will inject fresh capital into the fledgling digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies and Blockchain industry.
Cryptocurrency exchange FTX led by young entrepreneur Sam Bankman-Fried, announced Friday the creation of a new venture capital arm that will fund the advancement of Web3.
Referred to FTX Ventures the new venture capital unit will have a $2 billion fund and will be led by Amy Wu, formerly a general partner atLightspeed Venture Partners. The fund will have a broad approach to investing in companies in the cryptocurrency sector and Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. but with a special focus on Web3’s social and gaming platforms.
FTX Ventures aims to “ advance global adoption of Blockchain and Web3, with a broad investment mandate in social media, gaming, fintech, software and healthcare “said the company in a press release quoted byThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain..
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An equity equity is the funds that would be returned to a company's shareholders if all of the company's assets were dissolved and all debts were paid off in the event of liquidation. fund for Web3 games and applications
The term Web 3 , o Web 3.0 refers to an evolved state of today’s Internet that promises to be decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. with the help of technology. Blockchain . While experts do not yet seem to agree on this development, many project that Web3 will allow the power and ownership of data to be passed from big platforms such as Facebook y Google into the hands of the users.
In conversation with Decrypt Wu stressed that FTX Ventures is particularly enthusiastic about Web3 games as well as with social and consumer Web3 applications. He also mentioned the platforms Blockchain Layer 1 and Layer 2, cross-chain cross-chain is a technology that enhances the interconnection between blockchain networks by allowing the exchange of information and value. protocols and wallet a place where cryptocurrency users can store, send and receive digital assets. applications as potential investment fund targets.
“ Not necessarily linked to FTX strategy “commented the new director in this context to The Block . “ The goal is to further accelerate the adoption of Blockchain technology. “. For his part, he added to Decrypt :
We are very optimistic that over time, just as free-to-play games and mobile games really established dominance, we will also see the next step in the evolution of Web3 gaming.
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Article versioned by Hannah Estefania Perez / DiarioBitcoin
Image edited from Unsplash