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The investment company Old Fashion Research (OFR), created by former employees of the Binance exchange, has collected enough investments to compete for market share of digital assets and Web3.
Established in 2021, OFR announced the launch of a cryptocurrency fund that will focus on metaverses and the introduction of digital currencies in emerging markets.
According to one of the managing partners of OFR Ling Zhang (Ling Zhang), the company is set up for long-term cooperation with the designers of the metaverse. The main goal is to settle in the markets, mainly traditional financial, since it is there that companies willingly seek to break into the crypto space.
The fund is the largest in the history of a young company. In the Old Fashion Fund, several legal entities have already become portfolio investors: the blockchain analytics platform Nansen, cryptocurrency exchanges MEXC Global and Woo, as well as the second-tier network Boba Network.
It is reported that the capital was received from partners, who are mostly venture capital funds, from traditional financial systems. According to Zhang, the industry is booming as more and more traditional businesses seek to develop in the crypto industry:
“More and more venture capitalists are looking for ways to invest in cryptocurrency projects. Digital currencies themselves are a revolution and the destruction of the established financial system. The business model has ceased to be purely vertical.”
Earlier, Swiss asset management company Julius Baer said it was interested in decentralized finance (DeFi), as they can eliminate the shortcomings of traditional finance.
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