Published
2 years ago on
March 23, 2022
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Web3 is the talk of the town these days, even though there is much work to do. Building the necessary infrastructure, products, and services is essential but will only be viable with sufficient funding and support. Through its Nexo Ventures arm, Nexo aims to do its part to bring the Web3 future one step closer.
Web3 Is Still in The Infancy
There is tremendous excitement surrounding Web3 and how it will help establish a decentralized internet. Putting users in control of their data and removing third parties from the equation is a powerful concept. Moreover, it will introduce new revenue opportunities through users controlling their data, which sounds intriguing. However, making all of that happen in reality will require next-gen infrastructure, products, and services.
Unfortunately, it will take time and money to roll out the necessary infrastructure. Without help from investors, one will never realize the Web3 vision. Nexo acknowledges now is a good time to support developers, projects, and companies exploring Web3 opportunities. The regulated institution for digital assets has set up the Nexo Ventures fund and committed $150 million in funding to the new initiative.
Nexo Ventures is solely designed to invest in and acquire Web3-focused initiatives. Many exciting projects on the market are still in the early stage of development. Guiding those teams - through financial means and otherwise - can make the difference between meeting an early demise or tapping into the concept's full potential. Any project showing synergies with Nexo's core business can apply for funding and support.
Web3 is a very broad concept that spans many industry verticals. Nexo Ventures has identified DeFi innovation, Metaverse, NFTs, GameFi, Payments, Trading, and Compliance as some of the core focal points. In addition, the investment arm intends to explore other initiatives that fall under the Web3 category, as there are many exciting opportunities to look forward to.
A Slightly Different Approach To Providing Support
The cryptocurrency and blockchain industry has seen numerous investment funds. These are the driving forces behind established and up-and-coming projects, protocols, service providers, etc. Nexo Ventures, however, takes a slightly different approach to ensure projects receive the necessary support on their journey.
Nexo Ventures’ Tatiana Metodieva comments:
"Our investment value proposition differs from most traditional investment funds. We’re native to and have a deep understanding of the digital asset industry and technology. We prioritize strategic investments and aim to integrate innovative solutions into Nexo’s product ecosystem and across our global market footprint. We explore the feasibility of enabling Nexo’s users to invest alongside us, thereby leveraging our capabilities to facilitate investor diversification and wealth maximization.”
Nexo has acquired years of expertise across fintech, cryptocurrency, blockchain, and development resources as a well-established business in the digital asset space. Additionally, the company will commit to extensive marketing and community support to ensure integrated projects achieve an optimal business model deployment. Partnering protocols can count on extra liquidity through Nexo Ventures, which will streamline day-to-day operations.
The Nexo Ventures arm extends Nexo's earlier investment track record. The regulated entity has contributed to BCB Group, Bware Labs, Interlay, Oredo, Rain, Texture Capital, etc. Moreover, its partnership with Three Arrows Capital in late 2021 allowed Nexo to become the first lender accepting NFTs as loan collateral. The role of non-fungible tokens across decentralized finance has become much more outspoken since then.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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