DWF Labs has invested $16 million in popular metaverse coin project Raca (RACA) to promote the Web3 gaming ecosystem. The news of the investment led to a sudden jump in the altcoin price.
The metaverse coin, which received investment, rocketed the price!
As you may recall, RACA has transformed from managing the NFT collection of Tesla CEO, billionaire businessman Elon Musk’s mother, to a Steam-like Blockchain gaming ecosystem. Market maker and investment firm DWF Labs has invested $16 million in metaverse coin project RACA. By the way, it should be noted that this deal also includes the purchase of an unspecified amount of RACA tokens. The funding will help RACA continue its goal of being a broad Web3 gaming ecosystem.
The investment news acted as a positive catalyst for the altcoin price. According to CoinMarketCap, while RACA was following a sideways course at $0.0001946 during the day, it suddenly took a vertical leap. At press time, the metaverse coin price was trading at around $0.00023, up over 18% on a daily basis. However, it should be noted that the upward momentum continues.
DWF Labs continues to invest in the crypto ecosystem
cryptocoin.comAs you follow, RACA (formerly Radio Caca), founded in 2021, started as the manager of Elon Musk’s mother Maye Musk’s Non Fungible Tokens (NFT). The company has already launched an R3 game infra, SimCity-esque sandbox game USM.WORLD, social party game Looki Looki Jazzi, cross-game DID wallet JAZ, and an NFT marketplace.
DWF Labs emerged as one of the most active investors during the crypto bear market. Recent investments have included a $20 million fundraiser for derivatives trading platform Synthetix and a $40 million fund for AI-focused crypto protocol Fetch.ai.
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