Aelf, a high-performance Layer 1 featuring multi-sidechain technology for unlimited scalability, announces the launch of aelf Ventures with an aelf Ecosystem Fund of $50 million.
This bold step resonates with aelf’s mission to create a highly efficient and interoperable future, marked by strategic investments in pioneering teams propelling the transition from Web2 to Web3. The initiative also nurtures innovative blockchain projects within the aelf and multichain ecosystems.
“As we navigate the path toward a decentralised Web3 era, aelf Ventures stands as a guiding light for extraordinary minds and groundbreaking projects. Our mission is clear: to champion those who share our vision, investing in founders driven by passion and ideas that resonate with the essence of aelf. The remarkable journey of aelf Ventures is exemplified through notable investments like Crystal Fun and Mythic Protocol, projects that exemplify our dedication to seamlessly transition Web2 users to thrive in a decentralised Web3 future,” said Hazel Zhang, Head of Investments at aelf.
aelf Ventures is led by a cohort of accomplished experts and trailblazers in the crypto sphere. The eminent objectives of aelf Ventures encapsulate:
- Thesis: aelf Ventures materialises as a pivotal arm, uncovering fresh investment opportunities within Web3 and harnessing its potential as a high-performance Layer 1 venture for standout projects within the bustling blockchain realm.
- Investment Approach: With a keen focus on growth stage transition (Web2 to Web3) and novel possibilities, aelf Ventures champions transformative ventures within both aelf and multichain ecosystems.
- Dual-Track Investments: aelf Ventures embarks on both strategic and financial investments in promising blockchain startups and established crypto enterprises. These investments fortify these enterprises’ growth and foster symbiotic relationships and collaborations within the crypto landscape.
aelf Ventures aims to extend its reach into venture investments spanning diverse sectors, targeting avant-garde projects with visionary founders in alignment with pursuing a decentralised future. The fund favours blockchain innovation, addressing substantial market needs in the Web3 space, including but not limited to Gaming, DeFi, NFTs, and Public Goods.
aelf Ventures has invested in Crystal Fun, a decentralised Web3 game ecosystem aimed at converting Web2 game players into Web3 users through high-quality games, and Mythic Protocol, a protocol building a first-of-its-kind collaborative entertainment, allowing the community to contribute and develop a collaborative universe. Aelf Ventures has also incubated projects like Portkey, a social recovery account abstraction wallet; eBridge, a cross-chain bridge; Forest NFT Marketplace, an NFT marketplace; Awaken Swap, a decentralised exchange (DEX); EWELL, an initial DEX offering (IDO) platform; and BeanGo Town, a casual NFT game.