Reported Cointelegraph, a group of cryptocurrency venture investors has established a $20 million fund to invest in undervalued Web3 projects and companies focused on blockchain gaming and digital collectibles.
Alpha Protocol Ventures (APV) will look to invest in a variety of projects across the Web3 ecosystem, with gaming and collectibles will be a priority focus, while decentralized finance, layer-1 and layer-2 protocols will also fall within the scope of the fund’s capital allocation.
APV has drawn funding from Diamantis, Ethernity CEO Nick Rose, Web3 investment firm Morningstar Ventures and a group of Web3 angel investors.
APV had identified a number of potential investment targets, while it would also add support to “undervalued projects” that were launched as “buy-and-hold funds” including the likes of Polygon, Polkastarter, Axie Infinity and Ethernity.
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