$100M Web3 Fund Launched By ThunderCore, 886 Studios and Outliers Fund

ThunderCore today announced a dynamic new partnership with 886 Studios and Outliers Fund to raise a $100 million Web3 fund that will focus on boosting GameFi, SocialFi, NFT and Metaverse ecosystems. The financial initiative will incentivize developers to deploy their applications on ThunderCore’s rapidly growing layer-1 blockchain network. 

Clocking up to 400,000 active monthly users and gaining major traction in the Web3 space in 2022, the powerful EVM-compatible ThunderCore chain continues to aggressively invest into its layer-1 ecosystem of projects across various nascent crypto sectors. 

ThunderCore CEO and founder Chris Wang, a prominent Silicon Valley entrepreneur, said:

“ThunderCore is committed to building a thriving Web3 ecosystem. We’re therefore very excited to collaborate with 886 Studios and Outliers Fund, two likeminded partners, to support some of the incredible developers and artist talent that are redefining the blockchain. ThunderCore believes that we’re perfectly placed to help accelerate the implementation of new development in the areas of GameFi, SocialFi, NFT and Metaverse.”

ThunderCore recently revealed ThunderGene, an all-in-one project development platform comprising an API tool, project console, and wallet service. The API tool can be used by teams of all sizes and industries seeking to create blockchain products or utilize tokenized digital assets as part of their strategies.

Web3 projects looking to build on the ThunderCore blockchain will have access to the fund and are advised to start the application process directly. GameFi, SocialFi, and Metaverse projects are most likely to be accepted by the ThunderCore team.

About 886 Studios

886 Studios is a venture studio run by successful tech co-founders and entrepreneurs who collectively aim to solidify Taiwan’s prominence as a breakthrough blockchain tech, talent and innovation hub through investment, resources and support.

886 Studios believes creating value is an infinite and not a zero-sum game. 

They achieve this by connecting founders with the right partners and venture capitalists, leveraging their Silicon Valley experience and Taiwan know-how to help build successful startups together.

886 Studios team members comprise some of the biggest entrepreneurial success stories from Taiwan, including Kai Huang, (Guitar Hero founder) and ThunderCore’s Chris Wang (ex-Disney, Playdom).  

Successful companies backed by 886 Studio members include Binance, Gogoro, EMQ, Bitmark, Just Kitchen, Quantstamp, Harmony, Syndicate, and Prysmatic Labs (Ethereum 2.0) 

About Outliers Fund

Outliers Fund was started by MIT scientists Poseidon Ho, Yen Yeh, Jacob Cole, Dhash Shrivathsa, Joi Ito with the vision of backing scientist-led ventures through scientific research and collective intelligence (DAO). 

Outliers Fund I (2016-2018) and Outliers Fund II (2018-2021) have returned over 16x and 11x respectively. Outliers Lab has incubated 10 Web3 ventures since 2018 including Quantstamp, Harmony, XYO Network, Prysmatic Labs (now Ethereum 2.0) with three over 100x valuation growth, two filing IPOs and $100M+ raised collectively. 

Outliers Fund III (2022-2026) is running on smart contracts by deploying on Ethereum as the most active venture DAO on Syndicate (portfolio of Outliers Fund III), actively raising and investing in infrastructure-level research innovations from the first round as lead investor.   

About ThunderCore

ThunderCore is a powerful and ultra-fast Web3 ecosystem and layer-1 chain that delivers elite performance and cost-effective scalability for thousands of crypto projects. Its proof-of-stake (PoS) architecture and strong developer support provide a battle-tested home for the next generation of crypto builders to create in Web3, DeFi, NFTs, GameFi, and the metaverse with limitless scope.

The growing ThunderCore ecosystem is powered by its popular native asset, TT, which can be stored in the feature-rich TT Wallet, together with other supported project assets.

ThunderCore’s breakthrough consensus protocol “PaLa” overcomes the scalability “trilemma,” helping the ThunderCore network generate up to 4,000 transactions per second (TPS) with sub-second confirmation times and ultra-low gas fees at a fraction of a cent.

Created in 2017 by Silicon Valley tech entrepreneur Chris Wang to help solve Ethereum’s scalability issues, ThunderCore has an international user base that spans over 100 countries. It measured over 500,000 monthly active users in December 2021, making it one of the most actively used chains in the world, according to DappRadar.

Institutional investors in ThunderCore include MetaStable, Hashed, Electric Capital, Huobi Capital, Pantera, Zhen Fund, Kenetic Capital, Arrington XRP, Capitaland, and Draper Dragon, among others.

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.