GBA Capital to fund $10 billion in web3.0 startups

GBA Capital, a Chinese venture capital (VC) firm, announced a $10-billion pledge to establish a Web3.0 fund. It is believed the announcement was made on December 26, 2023, during the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference, stated Cointelegraph.

Sources revealed that the GBA Capital Web3.0 fund will invest in startups focusing on virtual reality, the metaverse and non-fungible tokens. The funding is expected to transform the Guangdong-Hong Kong-Macao economic area into a meta-asset capital.