Web3 company MoonPay has launched a new investment arm.
MoonPay Ventures will enable MoonPay to collaborate with and support startups to drive “industry-wide value” and “onboard the world” to Web3, said the company.
Web3 is a concept for a new version of the World Wide Web which aims to incorporate concepts such as decentralisation and blockchain technologies.
MoonPay said the new investment arm would engage with early-stage companies across the Web3 and FinTech ecosystems to support them in building Web3 experiences that “augment and transform” existing business models.
Beyond capital, it added that MoonPay Ventures would also offer portfolio companies access to “top-tier” teams, ideas and emerging business models around Web3.
“As we continue building at MoonPay, we’re also committed to uplifting the standout players in our ecosystem so we can collectively work toward mass Web3 adoption,” said MoonPay chief executive and co-founder Ivan Soto-Wright. “Launching MoonPay Ventures is a major milestone in bringing this vision to life and allows us to leverage our resources to support our portfolio companies, and in turn, the Web3 industry as a whole.”
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