Bitrue Ventures Allocates $40M to Foster Emerging Web3 Enterprises

In a recent announcement, the Singaporean cryptocurrency exchange Bitrue revealed the inception of a $40 million investment fund aimed at nurturing fledgling web3 companies. This strategic initiative, detailed in Bitrue’s Thursday blog post, signifies a robust commitment to advancing technological innovation within the blockchain ecosystem.

Amplifying Support for Innovative Startups

Bitrue Ventures extends an invitation to startups, offering up to $200,000 in funding per project. Beyond mere financial backing, the initiative promises comprehensive support encompassing development expertise, industry connections, and management assistance. While specific technical prerequisites are not mandated, Bitrue Ventures expresses a distinct preference for initiatives in sectors such as artificial intelligence (AI), real-world asset tokenization (RWA), gamefi, decentralized physical infrastructure networks (depin), and decentralized finance (DeFi).

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Strategic Alignment with Cutting-Edge Technologies

Projects operating within these targeted domains are particularly encouraged to apply, enhancing their prospects for receiving substantial backing. Bitrue Ventures emphasizes the potential for startups to list their proprietary tokens on the Bitrue exchange, thereby benefiting from strategic market positioning aligned with avant-garde projects and technologies. Despite the absence of a precise timeline for this initiative, the opportunity presents a significant advancement for qualifying enterprises.

Arthur Hayes Introduces Bitcoin Grant Program

Concurrently, BitMEX founder Arthur Hayes is initiating a novel grant program designed to bolster Bitcoin’s robustness, scalability, and privacy. Supported by Hayes’ Maelstrom fund, the “Bitcoin Grant Program” aims to propel the technical development of Bitcoin, offering grants ranging from $50,000 to $150,000 per developer. This program underscores a broader endeavor to fortify Bitcoin’s technological infrastructure.

This comprehensive initiative by Bitrue Ventures and the concurrent efforts by Arthur Hayes highlight a pivotal moment in the blockchain domain, fostering innovation and providing crucial support to groundbreaking projects poised to redefine the future of decentralized technologies.