NewTribe Capital invests $5M in NEAR Protocol

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 the NEAR ecosystem’s growth in the UAE and globally.

NEAR Protocol (NEAR), a blockchain platform that enables Web 3.0 development, is the leader. It is a platform that provides solutions for scaling Web 3.0 adoption, and removing barriers. NEAR features include fast speeds, low fees, progressive UX, and low costs. NEAR allows users to experience new levels of user experience without the limitations of traditional dApps when it comes down to transaction speeds, costs, and user experience.

“We’ve been following NEAR for a while and considering it a strong technology, we see a big potential for its rapid growth. We are proud to be the first VC funds supporting the NEAR ecosystem’s development in the Middle East. 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.

NEAR Protocol, a blockchain designed to support the Creator Economy. It provides a stable infrastructure and a single marketplace for members. They are in control of their data and funds, giving them the tools they need to create their ideas.

NewTribe Capital provides all the resources needed, including financial, advisory and marketing support. In addition, NewTribe Capital’s collaboration with Aurora, Human Guild, and Octopus is providing the infrastructure for all projects ready to develop on the NEAR Protocol.

NewTribe Capital already invested in NEAR Protocol projects, including Jumbo Exchange, Attarius Network, and YouMinter, and will soon announce other investments.

Earlier last month, the fund received the ‘Best VC of the Year’ Award at the AIBC Asian 2022 Summit held in Dubai for its huge contribution to the blockchain ecosystem development.

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