Crypto News– Billionaire investor Tim Draper has introduced a brand-new crypto venture studio and accelerator in a bold move to defy the challenging bear market conditions. Named Draper Goren Blockchain (DGB), this venture aims to expedite the development of DeFi (Decentralized Finance) innovations and other related projects.
Tim Draper Launches Crypto Accelerator
On the 20th of September, Tim Draper, along with Alon Goren and David Bleznak, proudly unveiled their innovative incubator. Remarkably, their accelerator is concentrating on the web3 ecosystem, cryptocurrencies, and blockchain technology even amidst the persisting bear market conditions. DGB is structured as both a venture studio and a general partnership, with a primary mission of accelerating the growth of crypto startups, as per their official announcement.
Tim Draper’s Bear Market Endeavor: Constructing Opportunities
Tim Draper, a prominent supporter of Bitcoin, has a rich history of investing in the crypto and blockchain sectors. He is notably recognized for making early investments in influential companies such as Coinbase, Robinhood, Tesla, Skype, and more.
Furthermore, Draper has made ambitious predictions regarding Bitcoin’s price, including his anticipation of a $250,000 BTC valuation by late December. DGB has set its sights on amplifying crypto projects that contribute to the ongoing evolution of the industry. They are doing so in anticipation of a substantial influx of new users and institutional investors in the forthcoming months and years, as Draper emphasized.
The DGB team has outlined a decade-long commitment to collaborating with web3 companies. Over this span, they plan to invest between $25,000 and $100,000 in pre-seed startups, fostering innovation and growth within the crypto space.
Notably, Draper’s previous venture studio, Draper Goren Holm, established a $25 million blockchain fund back in 2020, showcasing their dedication to the blockchain sector.
In a noteworthy development, on the 16th of September, Tim Draper announced the inception of Draper Nation, which appears to be an ambitious undertaking in the emerging metaverse space.
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