DWF Labs has committed to invest $7.5 million in AirDAO, a Layer 1 blockchain, to further drive adoption of its ecosystem. This latest crypto funding round expands on a previous $2 million investment made in September 2022 and includes a one-year cliff with a 36-month vesting schedule. In connection with the $7.5 million investment, DWF Labs has also received a loan of 1.5 billion AMB cryptocurrency over a three-year period.
AirDAO is undertaking initiatives to enhance its social media presence and global brand visibility, supported by an extensive operational runway designed to future-proof the platform and attract the next generation of users. By providing sufficient crypto venture capital, DWF Labs will be a key strategic partner in these efforts.
Andrei Grachev, Managing Partner of DWF Labs, shared his enthusiasm for this cooperation:
“Our partnership with AirDAO started in September 2022 when we invested $2 million. Since then we’ve been building a stronger relationship, with clear communications about their goals and roadmap. At DWF Labs, we want to support strong companies, and AirDAO has proven to us throughout this year that they have battle-tested technology, strong decentralized governance, and an experienced team. Besides following up our previous investment with a large check size, we will provide all the support needed for their ambitious roadmap with the resources from DWF Labs, DWF Ventures, and DWF Ecosystems, such as connections to different key players from the industry, support with their go-to-market strategy and investing into dApps building on their chain.”
DWF Labs will leverage its extensive network to expand AirDAO’s presence in key regions such as Turkey, including joint hosting of a networking event during the fringes of Binance Blockchain Week in November 2023. Additionally, AirDAO will engage with DWF Labs portfolio companies for collaboration and development opportunities.
Furthermore, AirDAO and DWF Labs have jointly committed to a $1 million ecosystem crypto investment fund to incentivize blockchain projects to launch on the AirDAO platform.
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