In a significant stride toward fostering Web3 innovation, OKX Ventures, the investment arm of the renowned crypto exchange and Web3 technology company OKX, has spearheaded a strategic investment round for BeWater. This emerging startup, a Web3 venture studio and global developer platform, is set to revolutionize open-innovation campaigns and events, making waves in the blockchain development space.
What is BeWater?
BeWater stands at the intersection of a Web3 venture studio and a global developer platform, streamlining the creation of open-innovation campaigns, including hackathons, in just 10 minutes. With a robust ecosystem boasting over 100 ongoing campaigns, BeWater supports various coding languages such as Solidity, Rebase, and Move, alongside diverse Layer 1 chains and toolkits like Starknet, Bitcoin, and Polkadot. The platform has successfully attracted a talent pool of over 25,000 GitHub-certified developers spanning more than 50 countries.
Backed by OKX Ventures
OKX Ventures, the investment arm with an initial capital commitment of USD 100 million, takes the lead in supporting BeWater’s innovative journey. Dora Yue, the founder of OKX Ventures, expresses a commitment to empowering the developer community and advancing the widespread adoption of Web3 technology. The alignment of visions between OKX Ventures and BeWater underscores dedication to enriching user awareness and amplifying the power of builders in the crypto and Web3 space.
BeWater’s Achievements and Vision:
Leveraging its incubation experience and expertise, BeWater’s Web3 venture studio focuses on supporting early-stage startups, fostering a robust Web3 product ecosystem. Notably, the ‘ABCDE BTC Hacker Camp’ held in November 2023 marked a significant success, with seven BTC ecosystem projects securing oversubscribed funding within a mere ten days of immersive boot camps and workshops.
Funding and Future Plans:
The investment led by OKX Ventures positions BeWater to expand its capabilities and further catalyze Web3 innovation. With a clear focus on supporting early-stage startups, nurturing talent, and developing a thriving Web3 product ecosystem, BeWater aims to utilize the funding strategically to deepen its impact on the global blockchain industry.
Industry Impact:
BeWater’s approach aligns with the broader goals of advancing Web3 technology and practical use cases. The partnership with OKX Ventures emphasizes a collaborative effort to escort a new era of engagement in Web3 from Web2. The positive reception of BeWater’s open-innovation campaigns signals a growing interest and participation in the Web3 space.
Conclusion:
As OKX Ventures leads the investment charge for BeWater, the crypto and Web3 space can anticipate a surge in innovative open-innovation campaigns and accelerated growth for early-stage startups. The strategic alignment between the two entities reflects a shared commitment to shaping the future of blockchain technology.
FAQs:
Q1.What coding languages does BeWater support?
BeWater supports a diverse range of coding languages, including Solidity, Rebase, and Move, catering to the preferences of developers on its global platform.
Q2.How does OKX Ventures plan to empower the developer community through BeWater?
OKX Ventures envisions empowering the developer community by supporting Web3 and crypto builders, fostering global growth, and contributing to the widespread adoption of Web3 technology. This investment in BeWater is a pivotal step toward achieving these goals.
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