NewTribe Capital- a UAE-based Venture Capital Fund (VCF) is ready to invest around $5Mln USD in the NEAR Protocol Ecosystem projects with the focus on boosting NEAR ecosystem’s growth in the UAE and globally. Additionally, the VCF firm also added that its focus is to offer investments in the early-stage Blockchain and crypto projects for boosting their growth.
Industry sources confirmed that NEAR Protocol (NEAR) is a leading blockchain platform for Web 3.0 development. It offers solutions for scaling and eliminating barriers to Web 3.0 adoption. NEAR’s structures comprise high speeds, low fees, and progressive UX. It empowers users to reach new levels of experience without the issues of traditional dApps experience when it comes to user experience, slower transaction times, and costs.
NewTribe Capital also added that the NEAR Protocol is a Blockchain built for the Creator Economy. It relishes to offer a sustainable infrastructure and is a single marketplace where members of the community are the ones in control of their funds and data, providing them the tools to create their ideas.
NewTribe Capital also added that they offer all the prerequisites for the resources comprising financial, advisory, marketing, and community outreach. In addition, NewTribe Capital’s collaboration with Aurora, Human Guild, and Octopus is providing the infrastructure for all projects ready to develop on the NEAR Protocol.
Juliet Su, Partner, NewTribe Capital, stated: “We’ve been following NEAR for a while, and considering it a strong technology, we see a big potential for its rapid growth. We are glad to be the first VC fund supporting the development of the NEAR ecosystem in the Middle East region. Having a strong VC partner such as us in the UAE will enable NEAR with the tools and support needed for effective growth.”
NewTribe Capital also added further stating that they have already commenced its investments in several NEAR Protocol projects like that of the Attarius Network, Jumbo Exchange, and YouMinter and will be announcing others soon.