Funtap, a Vietnamese tech company specialising in IT, entertainment and games, has announced the launch of a US$10-million blockchain-focused fund.
Funverse Capital will back startups working on blockchain-enabled apps in GameFi, DeFi (decentralised finance) and other potential projects.
The fund will write a cheque of up to US$1 million while also providing mentorship and accelerator programmes.
“Blockchain and NFT (non-fungible tokens) are great motivations for the coming generation of Internet products and services,” said Adam Bui, Founder and CEO of Funtap. “Funtap is now ready to contribute to the growth and acceleration of the emerging tech industry.”
Also read: Demystifying NFTs and DeFi
Founded in 2015, Funtap has grown from a game publisher to a digital service ecosystem of games, digital content, payment, and finance solutions.
As stated on its website, Funtap’s games have made inroads into ten overseas markets, including Thailand, Malaysia, and Singapore, besides Vietnam.
The firm claims to serve 42 million customers worldwide, with over 70 mobile games published and localised in five languages.
Vietnam’s blockchain market has been ripe for an explosion since the massive success of Sky Mavis, the gaming unicorn behind the well-known play-to-earn game Axie infinity.
Last April, Funtap picked up over 30 per cent stake in local digital payment firm 9PAY for a “seven-digit US-dollar” investment, DealstreetAsia reported. This transaction helps expand Funtap’s game-related offerings to 9PAY’s e-wallet.
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Image Credit: Funtap
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