Web3 risk investment firm Red Beard Ventures has completed a $25 million financing round, with participation from Animoca Brands and others.

BlockBeats reported on May 16th that Web3 venture capital firm Red Beard Ventures has raised $25 million, with investors including a16z co-founder Marc Andreessen and partner Chris Dixon, Animoca Brands, NFT platform SuperRare, and others. The new round of financing for Red Beard Ventures aims to accelerate the adoption of Web3 technology and support the launch of a token economics accelerator project called Denarii Labs, which is a joint initiative with Horizen Labs Ventures. The program will focus on providing consulting services, weekly educational meetings, guidance, and launch support for people starting token projects. The program is currently accepting its first batch of applications and plans to provide $100,000 to each selected company to establish its brand starting from Q3 of this year.