Singapore-based OKX Ventures has led an investment round in BeWater.
BeWater is a Web3 venture studio and global developer platform that facilitates the development of open-innovation campaigns and events, including hackathons, in what it claims to be 10 minutes.
With over 100 campaigns underway, BeWater claims to have a diverse range of coding languages, including Solidity, Rebase and Move, coupled with various Layer 1 chains and toolkits such as Starknet, Bitcoin and Polkadot. The company said its platform has attracted over 25,000 GitHub-certified developers from more than 50 countries.
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Leveraging its incubation experience and expertise, BeWater’s Web3 venture studio focuses on supporting early-stage startups and nurturing a Web3 product ecosystem. According to a statement, BeWater recently achieved success with the ‘ABCDE BTC Hacker Camp’ held in November 2023. During this event, seven BTC ecosystem projects received oversubscribed funding within just ten days of immersive bootcamps and BTC workshops.
“BeWater’s vision aligns perfectly with ours, as it seeks to capture the progress achieved through the experience of building from scratch. Together, we aim to advance the widespread adoption of Web3 technology, enhance practical use cases, and deepen engagement in Web3 from Web2. As lead investors in BeWater, we are dedicated to enriching user awareness and amplifying the power of builders as we enter a new era in the crypto and Web3 space,” OKX Ventures Founder Dora Yue.
OKX Ventures is the investment arm of the global crypto exchange and Web3 technology company OKX, with an initial capital commitment of US$100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
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Recently, OKX Ventures joined the Series A funding round of Polyhedra Network, which builds the next generation of infrastructure for Web3, focusing on interoperability, scalability and privacy, using advanced ZK-proof technology.
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