Despite the adverse conditions in the crypto market, Symbolic Capital has announced a $50 million fund for supporting early-stage Web3 projects.
Symbolic Capital is a relatively new company founded in May 2022 and headed by industry veterans – the Polygon founder, Sandeep Nailwal, and Cere Network’s founder, Kenzi Wang. According to the company’s announcement, this pedigree is what separates Symbolic Capital from other venture capital firms in the Web3 space.
So far, the fund has been directed toward blockchain gaming projects – Planet Mojo, Blinkmoon, and Community Gaming. In the future, Symbolic plans to back startups aimed at developing dApps.