Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF), the Web3 investor and advisor, has signed a memorandum of understanding (MoU) with Liteflow, an experienced Web3 and NFT technical developer.
The MoU is the first step in a planned long-term strategic collaboration agreement between the two groups to help new companies navigate the complexities of the Web3 landscape.
Through the partnership, pre-selected start-up projects will get access to US$1 million in dedicated seed project funding as part of a program to identify and support the next generation of leading Web3 projects.
Targeted projects will come from best-in-class DeFi, GameFi, and SocialFi applications.
Coinsilium and Liteflow will form an investment committee with certain vetted and pre-approved co-investors to evaluate and select suitable projects for collaboration and funding and have first rights to pre-seed investment opportunities.
Liteflow will provide the technological resources necessary in the Web3 environment, while Coinsilium will offer expertise in Tokenomics, investor material drafting, and market making via third-party market makers
Eddy Travia, Coinsilium chief executive. said: “Coinsilium is most excited to announce this collaboration with Liteflow, which is perfectly timed to leverage current market opportunities.
"This comprehensive expansion positions Coinsilium to work with a wider range of prospective clients, materially enhancing potential revenue streams and the development comes at a pivotal moment in the Web3 space, where numerous opportunities are emerging for the company".
Anthony Estebe, Liteflow’s chief executive, added: “We are thrilled to collaborate with Coinsilium to launch this initiative.
“Our combined resources and expertise will empower the next generation of Web3 startups, helping them to navigate the challenges of this emerging industry and unlock their full potential.”