GBA Capital, a Chinese venture capital (VC) firm, announced a $10-billion pledge to establish a Web3.0 fund. It is believed the announcement was made on December 26, 2023, during the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference, stated Cointelegraph.
Sources revealed that the GBA Capital Web3.0 fund will invest in startups focusing on virtual reality, the metaverse and non-fungible tokens. The funding is expected to transform the Guangdong-Hong Kong-Macao economic area into a meta-asset capital.
“This year’s conference would also hold meta-asset global tours in Japan, Singapore, Dubai, Silicon Valley, Europe, and other places, to improve the visibility of meta-assets,” Haolong Li, chairman, GBA Capital, explained.
Furthermore, Zhongrong is expected to fund Web3.0 project incubation and industrial services in the artificial intelligence field, Cointelegraph concluded.
(With insights from Cointelegraph)
