DWF Labs, the Singapore-based digital asset market maker and multi-stage Web3 investment firm, has made its largest investment ever in the EOS Network Foundation (ENF), marking a historic milestone for the network. The investment, which exceeds $60 million, is also the largest influx of external capital EOS has ever received.
In an announcement on Twitter, Yves La Rose, the Executive Director and Founder of the EOS Network Foundation (ENF), declared the investment as a historic milestone for $EOS.
In the thread Yves also mentioned: “This is the largest investment DWF Labs has ever made, and the largest influx of external capital EOS has ever had.”
He also Clarified: “this partnership is entirely separate from EOS Network Ventures, the $100 million ecosystem fund.”
According to Yves, DWF Labs’ investment is a sign that EOS is staging a comeback in the industry. He believes that this strategic partnership between DWF Labs and the ENF is a massive win for the network.
This investment includes a $45 million EOS token purchase agreement and a $15 million pledge to invest in EOS-based businesses and projects. The aim is to accelerate the growth and adoption of the EOS network, a Layer-1 network for developers building blockchain-based games and deploying decentralized applications.
The coordination of support, innovation feedback loops, community involvement, funding allocation, and EOS ecosystem growth facilitation are among the responsibilities of the EOS Network Foundation. This collaboration is vital to the development of the EOS network and will combine the resources and expertise of both parties.
This partnership’s timing holds great importance as the EOS Network will soon introduce its enterprise-grade EOS Ethereum Virtual Machine (EVM) on April 14th. The updated EVM will bring improvements surpassing those of Polygon, BSC, and Avalanche, with over four times more swaps per second. Additionally, the EOS EVM will support smart contracts and applications written in Solidity, the most widely-used language for programming smart contracts on the Ethereum network.
Amidst the crypto bear market, DWF Labs came forward to support the web3 industry, with notable recent investments such as a $10 million fundraise for Jersey-based Radix Tokens and a $40 million raise for AI-focused crypto protocol Fetch.ai.
The latest investment in the EOS network demonstrates the rising demand for blockchain-based solutions and the potential for growth in the web3 ecosystem.
The strategic partnership between DWF Labs and the EOS Network Foundation represents a noteworthy achievement for the blockchain industry. It showcases the potential for collaboration between established players in the field and emphasizes the necessity of establishing robust networks and ecosystems to support the growth of blockchain technology. DWF Labs’ investment will accelerate the expansion and acceptance of the EOS network, enabling developers to create more advanced decentralized applications and games on the platform.