Foresight Ventures, a Singapore-based crypto fund, has introduced a $10m incubator program focused on supporting Web3 startups.
According to FinSMEs, Foresight Ventures is a crypto fund with $400 AUM that manages a VC fund, an actively-managed secondary fund, a multi-strategy FOF, and a private market secondary fund.
The incubator – Foresight X – is an open platform that will collaborate with various industry builders. It has also partnered up with early-stage investors and incubators like Hack VC.
In partnership with developer hub Gitcoin, it will share incentives and help collaborations across the Western and Eastern development communities and markets.
The incubator will have three main collaborative programs. Firstly, Foresight X Incubator is an 8-week program that will select 30 businesses to provide $50,000-$200,000 investment alongside an exclusive marketing package, mentoring programs, industry-wide demo day and post-incubation support.
Meanwhile, Foresight X Ecosystem Grants, will be a prize pool dedicated to providing $5,000-$10,000 grants to every selected application.
Lastly, Foresight X Research Grant, an unlimited prize pool for ambitious scholars, will be focused on continuously rewarding research in the blockchain space.
Xternity, an Israeli provider of a Web3 platform for games, recently scored $4.5m in pre-seed investment.
Xternity provides a platform that enables game developers to work with many blockchains simultaneously at scale while having a unified code experience, add NFT assets, and game economy layers while focusing on their core mission.
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