SINGAPORE, May 08, 2024 (GLOBE NEWSWIRE) -- OKX Ventures, the investment arm of the leading cryptocurrency exchange and Web3 technology company OKX, has led a US$1.5 million seed funding round for BlockBooster, an Asia-centered venture studio. The funding round also saw participation from Conflux Network, Neighbor Capital Series, IceRiver Venture, and Bitcoin Lab, among others.

With a focus on the infrastructure, social and gaming sectors within Web3, BlockBooster's incubation model offers all-rounded support to high-quality projects, significantly enhancing their success rates and reducing development cycles. By collaborating with top-notch partners, BlockBooster provides extensive, long-term support to select promising project teams on many different aspects, such as product design, go-to-market strategy, business development, talent recruitment, early-stage investment, as well as compliance and risk management.

With this strategic investment, OKX Ventures aims to further enhance its access to investment opportunities of early-stage, quality projects and Web3 talent. OKX Ventures also seeks to foster collaboration between BlockBooster, its supported projects, and the OKX ecosystem.

BlockBooster plays an active role in events organized for Web3 builders. Notable events include "BlockBooster Web3.0 Hackathon @HKU" in April 2023, co-hosted with OKX and Gitcoin; and "Schelling Point .edu Singapore" in September 2023, in collaboration with OKX Ventures, Gitcoin and CollegeDAO.

Partner of OKX Ventures Jeff Ren commented: "BlockBooster is an emerging Web3 venture studio with a strong presence in Asia, supported by a community of exceptional Web3 entrepreneurs and builders. We are delighted to back BlockBooster’s expansion and look forward to working with their team. Together, we aim to identify and foster high-quality Web3 initiatives to spur industry growth."

Founder of BlockBooster Samuel Gu, said: "We’re honored by the recognition and support from OKX Ventures, which is known as the investment arm of one of the largest Web3 ecosystems. OKX Ventures has continually shown its commitment to supporting Web3 entrepreneurs and builders. Driven by our shared vision, this collaboration will bring enhanced support for the community, fostering innovations that shape the future of Web3.”

About OKX Ventures

OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, focusing on exploring the best blockchain projects on a global scale and supporting cutting-edge blockchain technology innovation.

Find out more about OKX Ventures here.

For further information, please contact:
Media@okx.com