UAE-based Venture Capital Fund NewTribe Capital, which invests in early-stage Blockchain and crypto projects, is set to invest $ 5 million in NEAR Protocol Ecosystem projects with the aim of boosting NEAR ecosystem’s growth in the UAE and globally.
NEAR Protocol (NEAR) is a leading blockchain platform for Web 3.0 development. It provides solutions for scaling and eliminating barriers to Web 3.0 adoption. NEAR’s features include high speeds, low fees, and progressive UX. It allows users to reach new levels of experience without the issues of traditional dApps experience when it comes to user experience, such as slower transaction times and costs.
“We’ve been following NEAR for a while and consider it a strong technology, we see big potential for its rapid growth. We are glad to be the first VC fund supporting the development of the NEAR ecosystem in the Middle East region. Having a strong VC partner such as us in the UAE will enable NEAR with the tools and support needed for effective growth,” stated Juliet Su, Partner, NewTribe Capital.
