The past few weeks have been quite a rollercoaster for the crypto market as we witnessed the collapse of FTX and its sister trading firm Alameda Research. However, this has not deterred long-term crypto investors from allocating funds towards potential projects.
Just recently, DWF Labs, a leading multi-stage Web3 firm and market maker, invested $15 million towards the Binance Industry Recovery Initiative (IRI). Prior to that, the company had also committed $10 million to support the growth of decentralized projects building on The Open Network (TON).
We spoke with Andrei Grachev, Managing Partner at DWF Labs, to get some more insight on what has been motivating the firm to invest in crypto innovations despite the tough market conditions. Here is what he had to share about their latest investments and the possible effects of FTX’s demise.
I understand DWF Labs is committed to the growth of Web3 and currently supporting several startups. Could you briefly explain to our readers what drives your interest in crypto innovations at this time?
I think the key to innovation in web3 is decentralization. Many projects that we are seeing and decided to invest into, are bringing to the table real decentralization value. We have experienced massive tech acceleration especially during crypto winter or previous bear cycles. That is why we are so bullish about funding the next wave of crypto innovation. This year alone, we funded more than 50 projects.
