FTX Ventures, the investment arm of cryptocurrency exchange FTX, and Liberty City Ventures have invested $20 million in DoraHacks, a multi-chain Web3 developer incentive platform to speed up the hacker movement’s projects.

DoraHacks will use the funds to accelerate the launch of several of its initiatives, thanks to a Series B1 investment sponsored by FTX Ventures and Liberty City Venture. Dora Grant DAO, a decentralized grant community, and Dora Infinite Fund, a perpetual tech venture, are two of the company’s projects.

Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com, and Amber Group, were among the investors in the round.

DoraHacks received an $8 million investment fund from Binance Labs last year. Dora Factory, DoraHacks’ DAO-as-a-service incubator, raised $20 million in the next round. Following FTX and Liberty City’s $20 million commitment, the total investment in Dora projects has now surpassed $50 million in the previous 18 months.

DoraHacks is notable for bringing together international Web3 startups through hackathons and award programs. According to the business, its platform has helped over 2000 entrepreneurs, and development teams earn $25 million in grants.

DoraHacks has already demonstrated its commitment to assisting technology and decentralized governance systems. In the ETHDenver and OpenSea hackathons, the business developed and implemented MACI, a zero-knowledge, collision-resistant voting mechanism.

DoraHacks also announced that the Dora Infinite Fund, the company’s evergreen initiative, will be launched through an NFT drop this year.

DoraHacks has fostered and invested in 20 projects since 2020, including Dora Factory, Zecrey, Thetan Arena, and ETHSign. DoraHacks has collaborated with over 40 Web3 ecosystems in hackathons and award programs, including Solana, Polygon, and Avalanche. The corporation also co-hosts Binance Labs‘ incubation program.


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