Farquhar VC, an early-stage venture capital firm based in Singapore, has partnered with TZ APAC, Asia’s leading Tezos blockchain incubator, to support new talent in Asia.
Farquhar VC said in an announcement that it plans to co-invest in future Web3 games built on the blockchain, along with the Tezos blockchain development team.
Farquhar VC works closely with and supports early-stage startups in Southeast Asia and has invested in 40 startups, including companies such as Spark Systems, Fairphonic, and Beep Technologies. A company spokesperson told CryptoNews that the company plans to announce its first investment in Tezos games in the coming weeks.
“Following recent investments in gaming technology startups such as Lockpick Learning and EMERGE Group, this partnership is a timely opportunity to enter the Web3 world and participate in its rapid growth,” said Farquhar VC Managing Partner said Jason, Chief Investment Officer. Su said in a press release.
Tezos Blockchain Incubator TZ Apac
Farquhar VC’s latest partnership with Tezos blockchain incubator TZ Apac will enable the company to invest in upcoming Web3 gaming startups and projects leveraging the Tezos blockchain from existing or upcoming thematic funds. He said it would be.
TZ APAC is a Web3 community for creators and developers with teams across Asia. TZ APAC is developing the next generation of his Web3 gaming, NFT and DeFi champions in the region. These projects will receive funding and other support from TZ Apac. The incubator is supported by the Tezos Foundation and Singapore-headquartered TZ APAC is accelerating his Tezos as Asia’s blockchain of choice.
What is Tezos?
Tezos is a blockchain network that hosts the associated digital token Tez (XTZ), facilitating user participation in decentralized finance (DeFi), decentralized applications, and non-fungible token (NFT) projects. This latest partnership shows interest in the Tezos gaming ecosystem.
It is possible to mint NFTs using Tezos. When creating a Tezos NFT, the transaction fees for users are only a fraction of the cost of tez. Tezos claims that Tezos NFTs are also energy efficient, with a carbon footprint comparable to the energy consumption of sending a single tweet.
Singapore remains a hub for innovation
Although Singapore remains a relatively crypto-friendly jurisdiction in Asia. Earlier this month, her Web3 community in Singapore expressed that government support is essential. A recent report in The Straits Times said Singaporean companies are particularly looking for help in two key areas: developing skilled talent with expertise in blockchain technology and strengthening their defenses against cyber threats.
In December, Singapore’s regulator, the Monetary Authority of Singapore (MAS), began piloting a digital currency, E-CNY (also known as the digital renminbi), in collaboration with China to boost tourism spending. announced plans to do so.
As reported by Cryptonews in 2023, Singapore has emerged as a top crypto-friendly destination for cryptocurrency billionaires seeking a tax-friendly haven to protect their crypto assets.