On April 14th, at the "2023 Hong Kong Web3 Carnival" sub-venue four of the "MetaEra x BitMart Special Session: Where are the Opportunities of the Metaverse" forum, Hong Kong Deputy Secretary for Justice Horace Cheung gave a speech announcing the launch of the Hong Kong Web3Hub Fund.
The fund has a scale of 10 million US dollars and will encourage more companies to settle in Hong Kong. By combining blockchain and artificial intelligence to provide a convenient and cost-effective platform, Hong Kong aims to better develop its unique advantages of "One Country, Two Systems" and drive high-quality development through technological innovation, while attracting talent from both inside and outside of the country.
The Hong Kong Web3.0 Association was established on the 11th. In addition to the relevant association, Hong Kong will establish the Web3Hub Fund to support more overseas Web3.0 companies to settle in Hong Kong. The fund will be chaired by Hong Kong Financial Secretary Paul Chan, and the management committee will be composed of experts from the fields of financial technology, blockchain, and cryptocurrency.
The fund will work with institutions such as the Hong Kong Science and Technology Park and the Innovation and Technology Bureau to provide one-stop services for overseas Web3.0 companies. It is reported that the fund has received applications from multiple Web3.0 projects from the United States, Europe, Singapore, and other places, involving areas such as decentralized finance (DeFi), non-fungible tokens (NFT), metaverse, decentralized social media (Dsocial), and more. The fund plans to begin investing and supporting these projects in the second half of this year.
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