PANews reported on May 16 that Red Beard Ventures, a Web3 venture capital company, has completed a round of financing of US$25 million. Investors include Marc Andreessen and Chris Dixon from a16z, Web3 game giant Animoca Brands, NFT platform SuperRare and other well-known Web3 participants. The new funding round aims to accelerate the adoption of Web3 technologies and support the launch of a tokenomics accelerator program called Denarii Labs, a joint initiative with Horizen Labs Ventures. The program will focus on providing consulting services, weekly educational sessions, mentoring, launch support, and more to those launching token projects.

The accelerator, which is currently accepting its first applications and is set to begin in the third quarter of this year, will receive $100,000 per company to build its brand.

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