Nexo Launches $150 Million Web3 Investment Fund

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Today’s Cryptocurrency Headline

Crypto platform Nexo has launched a $150 million in-house Web3 investment fund. The company’s venture capital arm, Nexo Ventures, plans to deploy funds into areas such as blockchain-based gaming, decentralized finance (DeFi), and NFTs. 

Tatiana Metodieva, head of corporate finance and investments at the venture arm, said, “the fund will drive continued adoption of digital assets and expansion of the Web3 ecosystem”. The VC arm has invested in 1inch, BCB Group, BlockFills, Bware Labs, Interlay, Mizar, Qredo, Rain, Texture Capital, The TIE and Yield Protocol before the launch of the fund.

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Terra founder Do Kwon tweeted that the Luna Foundation Guard (LFG) has raised $2.2 billion for its Bitcoin reserves, with hopes to reach $3 billion in the short term and $10 billion in the long term. Bitcoin has gained 3.44% over the last 24 hours and has risen to an intraday high of $43,293. BTC is slowly approaching the resistance level at $46,000 on the daily chart, and the relative strength index (RSI) is 59, which indicates that the market sentiment is becoming positive.

 

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