GBA Capital Fund commits over $10b to web3 industry

GBA Capital Fund announced at a digital economic development conference its plan to invest over $10 billion in the web3 industry, focusing on the Metaverse, NFTs, and real-world assets.

The latest move by GBA Capital Fund comes at a time when web3 investments have seen fluctuating trends. From a high of $1.8 billion in the twelve months leading up to June 2022, the figure plummeted to approximately $520 million by June 2023.

You might also like: CoinGecko: 75% of web3 games over last five years have failed

Wu Ying of the Digital China Federation commented on the current digital landscape, highlighting the convergence of traditional and modern digital assets in Yuan assets. These assets aim to stimulate the economy in the Greater Bay Area and beyond.

Li Haolong, Chairman of the World Yuan Asset Association, also spoke at the event, underscoring its importance for the industry. He described the conference as a technological guide, an industry supporter, and a showcase for new applications.

Haolong revealed that GBA Capital Group is set to launch a $10 billion Yuan Asset web3 Industry Fund that aims to invest in various sectors including Yuan denominated assets, the metaverse, NFTs, and RWA. This initiative is expected to position the Greater Bay Area as the “World Capital of Yuan Assets.”

The conference also served as an educational platform for investors and attendees new to the web3 industry.

Luo Jinhai, founder of Huoxun Finance and the mind behind the “Yuan Asset” concept, explained these assets as digital equivalents in a math-based universe, offering unique Features such as independence, privacy, security, scarcity, and liquidity.

Read more: South Korean gaming company Wemade floats $100m web3 fund
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