The nonprofit NEAR Foundation has set up a $100 million fund and a startup lab for the Web3 segment. Blok writes about it.

The partner of the new structure is Swiss investment company Caerus Ventures. The second is focused on driving innovation in Web3.

The NEAR Foundation states, “The laboratory will provide cross-functional project support and will be supported by designated consulting partners by the end of the year.” Said.

The target amount of the fund, which will be 50 million dollars in the first stage, will be increased in the funding rounds.

NEAR token reacted to the news with a growth of 10.1% over the past day (CoinGecko). At the time of writing, the asset is trading above the $5 mark.

The NEAR Protocol team has previously raised $350 million from Tiger Global, with participation from Republic Capital, Hashed, FTX Ventures, Dragonfly Capital, and other investors.

In January, the project raised $150 million, after which NEAR’s price broke its historical record of around $20.

That same month, the platform team introduced a new staking mechanism that allows validators to reward delegates with several different tokens.

Recall that in July, venture capital firm Konvoy Ventures announced that it has launched a $150 million fund. The structure is focused on Web3 gaming platforms.

Prior to that, Ethereum NFT scaling solutions developer Immutable launched a $500 million fund focused on Web3 games.

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