Former Binance Executive Launches $100 Million worth of Crypto Metaverse Fund
A group of former executives of Binance launched a $100 million venture fund named Old Fashion Research (OFR) to focus on the Metaverse and bring more Crypto adoption to regions with emerging markets.
The $100M Crypto fund is planned to spur the adoption of Crypto in Latin America and African markets. Wayne Fu, former head of corporate development, and Ling Zhang formed the crypto fund in late 2021.
Zhang, Binance’s former vice president of M&A and investments initiated and oversaw many of Binance’s most significant acquisitions and investments, including FTX, Sipe.io, Multicoin Capital, WazirX, and CertiK.
The purpose of the fund is to accelerate crypto adoption by putting resources into Blockchain projects. The traditional investment capital funds, limited partners, family offices, and angel investors support OFR. However, the main investor is the global gaming platform, WEMIX. Read More….