December 10, 2024
Boyaa Interactive International Limited has completed an investment in BounceBit, a Web3 asset management platform. The deal, finalized in 2024, resulted in Boyaa converting its investment into 4,200,000 BB tokens. The company made this announcement to keep shareholders and potential investors updated on its activities.
BounceBit, a Web3 platform with CeDeFi infrastructure and the first to offer Bitcoin (BTC) staking on a public chain, aims to enhance Bitcoin’s value through its financial model. Recently chosen for the Hong Kong Cyberport Incubation Programme, it will collaborate with Boyaa to explore Bitcoin growth and related ventures. The BB token, launched in May 2024, serves governance and security functions within the platform. Boyaa’s 4,200,000 BB tokens are valued at approximately US$1.5 million and will unlock over 20 months starting in May 2025.
The investment round for BounceBit was led by Blockchain Capital and Breyer Capital, with additional support from other co-investors including Binance Labs, NGC Ventures, and OKX Ventures. Boyaa’s involvement in the project is part of its broader strategy to increase its footprint in the Web3 sector, utilizing its background in internet gaming and the opportunities presented by Hong Kong’s evolving Web3 policies. The company aims to strengthen its position as a leader in the Web3 space.
About BounceBit
BounceBit is a Web3 platform that incorporates CeDeFi infrastructure and Bitcoin (BTC) staking on a public chain. The platform focuses on enhancing Bitcoin's value through its financial model and has been selected for the Hong Kong Cyberport Incubation Programme.
Website: https://bouncebit.io/ X: @bounce_bit
About Investor Blockchain Capital
Blockchain Capital is a venture capital firm focused on the blockchain sector. It has supported numerous high-profile blockchain companies, including Coinbase and Kraken. Blockchain Capital is dedicated to advancing the growth of the blockchain ecosystem. Location: San Francisco, California Website: https://www.blockchaincapital.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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