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Relentlessly BUIDL: Bitget Goes Beyond Derivatives With The New $100M Web3 Fund

Relentlessly BUIDL: Bitget Goes Beyond Derivatives With The New $100M Web3 Fund

One of the biggest crypto derivatives platforms, Bitget has previously made the headlines with its pioneering $200 million Bitget Protection Fund way back in August 2022, whose value was increased to $300 million in November last year, and the $5 million Bitget Builders Fund promptly after the FTX collapse. While these two funds are massively user-focused, Bitget's new fund, known as the Bitget Web3 Fund, addresses the matter of blockchain/Web3 project funding and proposes the perfect solution correspondingly.

A CEX With The Decentralised Vision

Bitget was launched in 2018 with a mission of lowering entry barriers to crypto markets and has, within less than five years, established a strong user base of 8 million from over 100 countries and regions. We take pride in the sophisticated design as well as the social philosophy behind our products; our flagship Bitget One-Click Copy Trade, the first copy trading product in the industry ever, helps shorten the learning curve for aspired traders by allowing them to uncover tips and strategies of successful experts. These seasoned players can share a portion of their copiers' revenue and are thereby motivated to constantly up their game, which creates a win-win situation for all parties.

However, we are not your average centralised exchange in that we, as a keen builder of the digital space, have been serving as the bridge between centralised and decentralised platforms via the inclusion of DeFi activities on Bitget MegaSwap, Bitget Launchpool, Bitget Savings, Bitget Earn, Bitget SharkFin and self-custody wallet BitKeep (soon to be Bitget Wallet). Our approach to decentralisation also involves support for crypto startups through fundraising on our Bitget Launchpad and listing on our Bitget Innovation Zone, both of which prove to be highly beneficial in terms of marketing, user acquisition and value generation. To date, Bitget is the first CEX to tap on decentralised data storage provider Space and Time for maximum transparency

Seeing the growing need for cryptocurrencies to create real-world utility, we know it's high time that true builders received extraordinary assistance. And thus, the Bitget Web3 Fund is launched.

Continue To Explore And Innovate Web3

If the New Year 2023 was doomed with the prolonged aftermath of last year's black swan events, the tables quickly turned to show a foregleam of bulls' return. Bitcoin price has been up by over 50%, the global market cap back to $1 trillion, the NFT market volume doubled in Q1 2023 are wonderful bits of news to motivate new crypto projects. That's not to mention clearer regulatory policies on a global scale, especially in Asia.

To kick start a booming Q2, Bitget decides to launch the new Bitget Web3 Fund with a $100 million initial investment. We are already in talks with prominent VCs including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker and ABCDE Capital about potential partnerships and how we altogether can provide meaningful support to those with innovations. Our analyst team is working on the finalisation of terms and criteria, whereby experienced teams, presentation of practical plans, competent management and impactful solutions will be much appreciated.

The ultimate goal is to connect contributors across sectors for a true, widespread adoption of Web3. Not only do we wish to work with inspirational founders but also fund managers - those with profound knowledge of the local blockchain startup landscape, combined with an eye for greatness. Given that Hong Kong, Singapore and other Asian countries are leading crypto regulations, we should be more inclined to prioritise Asia-based VCs and projects. But that doesn't stop us from spotting excellence in all places, because after all, blockchain is, and always will be, borderless.

Simply create an account, and start exploring the incredible Bitget-Verse today!