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Gate Ventures, Movement Labs, and Boon Ventures will launch a $20 million encryption fund
Venture capital firms Gate Ventures and Boon Ventures have announced a partnership with Movement Labs to establish a new $20 million fund specifically for investing in Web3 startups. The fund will focus on developing protocols based on Move, particularly applications that connect the Move network with the Ethereum blockchain (EVM), including secure Decentralized Finance (DeFi) projects, GameFi with in-game asset trading and Non-Fungible Token (NFT) management, as well as interoperability solutions for data and asset transfer between the Move and EVM ecosystems. (Cointelegraph)