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Funtap’s Funverse Capital announces first investment fund for blockchain-focused tech startups

Hanoi, Vietnam – Funverse Capital, the blockchain-focused venture capital fund formed by Funtap, one of the fastest-growing mobile game publishers in Vietnam, announced its first US$10m investment fund for blockchain-focused tech startups. Funverse Capital said the capital fund, which is backed by Funtap, will be directed towards blockchain-focused tech startups that are capable of driving profound impact on the fintech and gaming industry.

In addition to capital funding ticket size of up to US$1m for each qualified project, Funverse Capital offers mentorship and accelerator programs which take advantage of Funtap’s leading position in Vietnam’s mobile gaming market such as the company’s nearly a decade of market understanding and its 42 million worldwide customer network. 

Funverse Capital’s Managing Director Phillips Dao shared that in the Southeast Asia market, the capital fund is now seeking startups working on blockchain-enabled applications in GameFi, DeFi, and other potential projects. 

“A good product is not enough for the startup to win in today’s market. We recognize the opportunity for fledgling entrepreneurs to go ‘from vision to action’ and are willing to assist them turn their ideas into reality by sharing the strength of a worldwide business network, the mutual advantages of the online ecosystem, and growth lessons in the typical Internet market,” said Dao.

Meanwhile, Adam Bui, founder & CEO of Funtap Corp., commented, “Blockchain and NFT are great motivations for the coming generation of internet products and services. With our financial capital and other business resources committed via Funverse Capital, Funtap is now ready to contribute to the growth and acceleration of the emerging tech industry.” 

Vietnam’s blockchain market has been booming recently since the huge success of Sky Mavis, the tech startup behind the well-known monster-combat NFT game Axie infinity.