OKX Ventures Announces Strategic Investment in EVG's Consumer-oriented Projects, Paving the Way for Novel Applications in SocialFi and GameFi

HONG KONG, May 6, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, has announced a strategic investment in four consumer-oriented products from Web3 venture studio EVG. These include multi-chain SocialFi infrastructure Open Social Protocol, decentralized collaboration network Zeek, strategy card game Legend of Arcadia and real-time strategy game Last Odyssey.

"EVG is a leading early-stage builder in Asia, driving meaningful innovations in some of the fastest growing verticals like SocialFi and GameFi. We're excited to support its efforts through our strategic investment and network, and look forward to advocating our shared vision in driving mass adoption in the Web3 space," said Jeff Ren, Partner of OKX Ventures.

OKX Ventures sees potential in these consumer-oriented initiatives, particularly in their ability to integrate real use cases and gamified mechanisms into social and gaming experiences. This investment will help accelerate the adoption of these disruptive technologies among mainstream audiences in a fun and engaging way.

"With the underlying technologies getting readier than ever, consumer adoption is primed to take off this cycle. And Asia is at the frontier of SocialFi and GameFi, two of the biggest use cases that could onboard the next billion users to Web3. We are humbled to have the support on these novel experiments from OKX Ventures," said Allen Ng, Co-founder & CEO at EVG.

OKX Ventures is recognized for its forward-thinking approach and ability to identify innovative projects with transformative potential. By investing in EVG's projects, it aims to tap into the innovative power of EVG and leverage its expertise in Asia to drive product-market fit in the social and gaming sectors.

About OKX Ventures

OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, focusing on exploring the best blockchain projects on a global scale and supporting cutting-edge blockchain technology innovation.

Find out more about OKX Ventures here.

For further information, please contact:
[email protected]  

About EVG

Everest Ventures Group (EVG) is a Web3 operating group dedicated to driving the mass adoption of Web3. With a team of 300 builders, it has launched a diverse portfolio of products for the future of digital interaction across use cases. EVG has also invested and contributed to the making of 100+ projects globally, such as Animoca Brands, Berachain, Yuga Labs, Celestia and Wormhole.

For more information, please visit www.evg.co.

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SOURCE OKX Ventures