Mars4.me, a pioneering Web3 metaverse project, has inked a strategic partnership with DWF Labs, securing substantial investment. Long-term financial support bolsters Mars4’s development progress and comes at a pivotal time as the company prepares to launch a suite of new products and the multiplayer game.
RACA has evolved from managing the NFT collection of Elon Musk’s mom to a Steam-like blockchain gaming ecosystem.
Market maker and investment firm DWF Labs has invested $16 million in Web3 company RACA, a deal that includes purchasing an unspecified amount of RACA tokens. The funding will help RACA continue its goal of becoming an expansive Web3 gaming ecosystem.
DWF Labs, a leadingglobal marketmaker and investment firm, has been heavily investing in the Web3 ecosystem in recent months in a focused drive to "disrupt traditional industries," according to Andrei Grachev, DWF Labs' Managing Partner. "We are positive about infrastructure projects that simplify the onboarding process from Web2 to Web3, as they play a crucial role in bridging the gap and facilitating widespread adoption."
2023 has been a somewhat slow year for Web3. There are fewer investments because of the liquidity crunch, and VCs have a lower appetite for risk because of rising interest rates.
While there have been encouraging signs in the past few weeks, it is undeniable that the spate of investment in Web3 products has reduced from its 2021 peaks. This slowdown in investments has also contributed to the liquidity crunch in crypto as well.
The funding came from DWF Labs, its eighth investment of $10 million or more in the last six weeks.
Alchemy Pay, a payments provider based in Singapore, has received $10 million in investment from market maker DWF Labs at a $400 million valuation as it eyes expanding its business in South Korea.
DWF Labs Managing Partner Andrei Grachev discussed the firm’s investment strategy and continuing risks for the industry.
Investment in crypto companies, which poured in at a record pace during the 2021 bull market, slowed to a near stop as the bear market began and headline-grabbing scandals rocked the industry.
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