TechFlow reports that Israeli cryptocurrency incubation platform Gems has raised $198 million to "unearth true gems in the Web3 space." The raised funds will be allocated to Gems' first three projects.
The Gems platform reportedly brings together a large network of investors organized by "leaders," offering early access to early-stage projects deemed high-quality. Gems claims to provide a solution to ICO scams, which have severely impacted the digital asset industry in the past.
Earlier this year, Gems self-launched, raising $10 million and introducing its native token, GEMS.
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