TechFlow reports that Layer 1 blockchain aelf has announced the launch of a $50 million venture fund, aelf Ventures. Focused on supporting transformative businesses transitioning from Web2 to Web3, aelf Ventures conducts dual-track strategic and financial investments in early-stage and established crypto ventures across sectors including, but not limited to, gaming, DeFi, NFTs, and public goods.
aelf Ventures has invested in Crystal Fun, a decentralized Web3 gaming ecosystem, and Mythic Protocol, a collaborative entertainment protocol. Additionally, aelf Ventures has incubated several projects, including Portkey, a social recovery account abstraction wallet; eBridge, a cross-chain bridge; Forest NFT Marketplace; DEX platform Awaken Swap; IDO platform EWELL; and BeanGo Town, a casual NFT game.
