Former Binance CEOs Ling Zhang and Wayne Fu have created a $100 million Old Fashion Research multi-strategy fund. The metaverse-focused structure will also promote digital assets in emerging economies.

We are pleased to announce the launch of the $100 million multi-strategy fund. OFR is dedicated to helping build the next generation of Web 3.0 dApps and protocols.https://t.co/17rjMwQIhf

— Vintage Fashion Research (@ofrfund) 26 May 2022

Lin Zhang previously served as Binance VP of Investment and M&A. FTX was behind the collaboration with WazirX, Swipe.io, Multicoin Capital, Tokocrypto, Chiliz and Certik. Wayne Fu worked as head of corporate development for a bitcoin exchange.

The build is powered by Jiang “JX” Xin. He managed Binance Labs and Launchpad’s investments in Axie Infinity, Moonbeam, Alpha Finance and other projects.

Former Bitcoin CFO Wei Zhou will act as the fund’s strategic advisor.

Backed by Old Fashion Research, unnamed venture capital funds, family offices, and angelic angels. The WEMIX gaming platform team played an important role.

The fund’s portfolio includes more than 50 blockchain projects, including Nansen, WOO Network, and African gaming community Metaverse Magna. The structure is diversified both by region and by blockchain projects.

Old Fashion Research supports startups throughout their lifecycle “with accumulated expertise in M&A, investment and incubation while building a successful portfolio on Binance.”

Recall that Andreessen Horowitz launched a $600 million fund focused on “game infrastructure and metadata transfer technologies”.

Epic Games previously raised $2 billion for metaverse development