Crypto Community Backs ARC in $4.5M Fundraising for Web3 Projects 🚀
A blockchain version of the famous Y Combinator framework is in the works as ARC, a community of over 850 members, managed to raise $4.5 million. This move was announced recently, aiming to provide support to ambitious Web2 brands and Web3 projects in Asia.
ARC: The Y Combinator of the Web3 World 🌐
The Singapore-based ARC is positioning itself as the “Y Combinator of the Web3 world” and is planning to replicate Y Combinator’s model for project incubation, go-to-market strategies, and funding. Y Combinator, a well-known San Francisco-based startup accelerator, has a track record of helping launch successful companies like Dropbox, Airbnb, and Stripe, with Sam Altman, President from 2014 to 2019.
Boosting Web3 Projects with New Capital 💰
- ARC intends to utilize the newly raised capital to enhance its ecosystem by offering dedicated support to new Web3 projects.
- The focus will also be on creating strategic partnerships to expedite concept development and testing.
- The streamlined process from concept to market launch is another area where the capital will be directed.
4.5 Million Reasons to Join ARC Ecosystem 🌟
- ARC CEO, Elroy Cheo, emphasized the importance of community involvement in the fundraising process.
- Emphasizing the significance of having solid teams behind innovative ideas, Cheo highlighted the global community support for ARC projects.
- Cheo believes this strategy sets a new standard for launching projects and ventures successfully.
A New Standard for Project Birth in the Digital World 🌍
ARC’s approach of social coordination aims to consolidate capital access, launch capabilities, and developer talents for Web3 projects onto a single platform. This strategy underscores the community’s commitment and determination to drive project success.
Investors and Backers 🤝
The $4.5 million funding round saw participation from 163 members of the ARC community, with leading support from Venture Capital firm Arcane Group. Notable participants include Adrian Lai (The Newman Group), Arthur Cheong (Defiance Capital), Cecilia Lee, Germaine Jiang (Mask Network), and Chris Sirise (LiquidX Studio).
Founding and Future Plans 🚀
Established in 2022 by Elroy Cheo and Singapore-based business leader Kiat Lim, ARC is committed to propelling the success of Web3 projects through community engagement and strategic partnerships.
Hot Take: Harnessing Community Support for Web3 Success 🚀
The collaboration within the ARC community showcases the potential for collective efforts to drive the success of innovative ventures in the Web3 space. With a focus on empowering projects through community backing, ARC sets a new benchmark for project development and launch, leveraging the strength of its global network.
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