Funtap, a Vietnam-based mobile game publisher, has launched a US$10 million investment fund for blockchain-focused tech startups.
Funverse Capital will write checks of up to US$1 million to NFT games and blockchain-focused startups for each project. It will also offer mentorship and accelerator programs, where participants can leverage Funtap’s network of 42 million users worldwide.
The new investment fund will be spearheaded by Funtap’s Vice President of Game Business Phillips Dao, who has 15 years of experience in the gaming industry and is a former esports director at VTC Mobile.
“We recognize the opportunity for fledgling entrepreneurs to go ‘from vision to action’ and are willing to assist them turn their ideas into reality by sharing the strength of a worldwide business network, the mutual advantages of the online ecosystem, and growth lesson in the typical internet market,” Dao said in a statement.
In April 2021, Funtap acquired an over 30% stake in 9Pay, a Vietnam-based firm that offers a payment gateway, an e-wallet, and cash collection services for individual and corporate customers.