Facebook X (Twitter) LinkedIn Telegram
    • About
    • Advertise
    • Submit Press Release
    • Contact
    Facebook X (Twitter) LinkedIn Telegram
    BlockonomiBlockonomi
    • Prices
      • All Coins
      • Bitcoin Price
      • Ethereum Price
      • Ripple Price
      • EOS Price
      • Litecoin Price
      • Monero Price
      • Binance Coin Price
      • Bitcoin Cash Price
      • Chainlink Price
      • Cardano Price
      • Stellar Price
      • Tron Price
    • Sections
      • All
      • Analysis
      • Bitcoin
      • Ethereum
      • Education
      • Trading
      • Buying
      • DeFi
      • NFTs
      • Metaverse
      • Exchanges
      • Brokers
      • Guides
      • Gaming
      • Privacy
      • Business
      • Finance
      • Fintech
      • Regulation
      • Security
    • Claim Free Crypto!
    • Gamble With Crypto!
    • Easily Buy Crypto!
    Home / About / Advertise / Submit Press Release
    BlockonomiBlockonomi
    DeFi Metaverse NFTs

    Cake DeFi Introduces Cake DeFi Ventures To Back Web3, Metaverse & NFT Startups

    Technology services and consulting provider Cake DeFi is launching a $100 million fund focused exclusively on Web3, Metaverse and NFT efforts
    Nicholas SayBy Nicholas SayMarch 10, 2022No Comments4 Mins Read
    Telegram Twitter LinkedIn WhatsApp Facebook Email
    Share
    Facebook Twitter LinkedIn Email Telegram WhatsApp

    Singapore-based technology services and consulting provider Cake DeFi is launching a $100 million fund focused exclusively on Web3, Metaverse and NFT efforts.

    The fund aims to aggressively support startups across these spaces and to grow the nascent ecosystem.

    Speaking with CoinDesk, Cake DeFi CEO Dr, Julian Hosp highlighted the fund’s goal:cake defi

     

    “We’re a [business to consumer] platform that’s really centered around providing easy cash flow for our customers,” he added, “So the thesis for the fund is mainly to look for projects and companies where we can have a symbiosis.”

    More Support for New Tech

    Table of Contents

    • More Support for New Tech
    • More Investment Coming
    • A Dynamic Market

    Officially called “Cake DeFi Ventures” (CDV), the fund will focus on backing early-stage initiatives across diverse areas including Web3, NFT space, metaverse, game and eSports, and fintech. The eligible targets are the crypto initiatives that meet the core criteria of company values.

    Led by CEO Dr. Julian Hosp and CTO U-Zyn Chua, Cake DeFi is a one-stop decentralized finance platform that offers customers the opportunities to generate high returns through a wide range of investment services like liquidity mining, staking, lending, among other services.

    Apart from money, crypto startups can get access to other benefits as well.

    To wit,

    “Portfolio companies have the opportunity to access numerous Cake products, connections, users, resources, and expertise within the global blockchain industry,” as noted in the announcement.

    As part of the strategy, new investment partner Nicholas Khoo will join forces to lead the new CV arm.

    According to a press release, Cake DeFi noted that prior to the CDV’s launch, the team was already in conversations with many startups across Southeast Asia, Europe, and the United States at various stages of development.

    “As an extension of our multiple blockchains support and having built up an R&D arm with cryptography deep tech capability, investing in companies that bring synergies to Cake DeFi’s core business will allow us to enhance and broaden our Web3 offerings,” Cake DeFi co-founder U-Zyn Chua said.

    More Investment Coming

    BIg funds are pouring money into crypto investment as the government is getting more engaged to the space. Regulators have also taken significant steps to encourage the capital market while properly regulating the space.

    However, when the NFT space continues to receive bullish news related to funding, the NFT marketplace has seen significant decline in terms of trading volume.

    Following an incredible year with a trade value in excess of billion dollars, the NFT trading activity on OpenSea has recently shown a clear sign of collapse.

    According to Delphi Digital data, the trading volume on OpenSea has dropped by more than 70% to roughly $70 million. However, the number of active users has surged.

    A Dynamic Market

    NFT trading volume on the OpenSea marketplace has been declining in recent weeks, owing largely to a series of collapses that resulted in consumers losing millions of dollars in digital assets.

    Due to a difficulty with the market’s user interface design around the end of January, some people took advantage of this to buy NFTs at a discount to their genuine price.

    According to OpenSea, problems develop when users generate listings for their NFTs and then transfer the listed NFTs to another wallet without unlisting them.

    To resolve this issue, OpenSea has updated its smart contract, prompting all users to move their Ethereum listings to the new smart contract.

    However, it later led to a phishing attack on the platform, with some speculating that the issue was caused by the transition process.

    While there is no specific reason for the drop in NFT trading volume, many believe the market’s vulnerability may have dampened the enthusiasm of some potential investors. Political issues are also key factor since they move people’s attention to digital payments, value storing, and fundraising.

    Google Trends data previously revealed a drop in searches for NFT and metaverse. When compared to the peak in late January, NFT search volume has dropped by 60 to 70%. The majority of interest in NFT originates from the United States and Japan.

    Advertise Here
    Nicholas Say
    • LinkedIn

    Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology.

    Related Posts

    Bitget Friend3 Listing: Exchange Embraces Social dApp Innovation

    November 29, 2023

    Kinto Migrates to Arbitrum, Bringing Compliance to DeFi

    November 22, 2023

    Bitget Honors Core Community with Limited Edition NFT Drop

    November 21, 2023

    Comments are closed.

    Coinbase Earn
    Advertise Here
    Gambling
    • mBit Casino
      VisitReview
    • BC Game
      VisitReview
    • Duelbits
      VisitReview
    • BitcoinCasino
      VisitReview
    • FortuneJack
      VisitReview
    • 1xBit
      VisitReview
    Exchanges
    • KuCoin
      VisitReview
    • Coinbase
      VisitReview
    • Binance
      VisitReview
    • PrimeXBT
      VisitReview
    Koinly
    Advertise Here
    Trading Bots
    • 3Commas
      VisitReview
    • Cryptohopper
      VisitReview
    • CoinRule
      VisitReview
    3commas Trading Bot
    Advertise Here
    All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.
    Blockonomi™ Copyright © 2017 - 2023 Kooc Media Ltd. All rights reserved. Registered Company No.05695741
    Network: Moneycheck - Finance News / Beanstalk - NFT & Metaverse News
    • About
    • Contact
    • Deals
    • Advertise
    • Privacy Policy
    • Terms & Conditions

    Type above and press Enter to search. Press Esc to cancel.