On June 3rd and 4th, DWF Labs, one of the leading investment funds and market makers (MM) for Web3 projects, was “overflowing” with investment news. In just 24 hours, DWF Labs announced investments in three different crypto projects, totaling over 17 million USD, including two memecoins.
First, DWF Labs announced a 5 million USD investment in the memecoin project Milady (LADYS), a memecoin based on the Milady Maker NFT collection, which had caused many investors to “hit the jackpot” due to its significant price increase in early 2023.
Related: Memecoin LADYS Secures Investment from DWF Labs
After investing in the memecoin LADYS, DWF Labs proceeded to invest 12 million USD in the memecoin Floki Inu. According to the plan, DWF Labs will use this amount to buy FLOKI from the open market and the project’s treasury, to support Floki in developing products set to launch later this year, including: the mainnet version, the virtual universe game Valhalla, the Floki trading bot, and the “.floki” domain service.
DWF LABS TO PURCHASE $12,000,000 IN FLOKI TOKENS TO SUPPORT THE FLOKI ECOSYSTEM
As a testament to its unwavering support for the #Floki Ecosystem, DWF Labs will purchase $12,000,000 in $FLOKI tokens. A portion of the tokens will be acquired from the market, and the rest will be… pic.twitter.com/z2kHiUgAdc
— FLOKI (@RealFlokiInu) June 4, 2024
This follows a commitment to purchase 10 million USD worth of FLOKI in February, which caused FLOKI’s price to surge by more than 80% at that time. Simultaneously, DWF Labs also invested 10 million USD in TokenFi (TOKEN), FLOKI’s “sister” coin, over the next two years to develop AI-integrated products.
In addition to investing in the two memecoin projects, DWF Labs also funded Sidus Heroes, an AAA Play-to-Earn game in the MMORPG genre developed on blockchain. This agreement is expected to drive ecosystem growth and increase the market presence of Sidus Heroes in Web3.
Memecoin FLOKI Price Fluctuations
FLOKI has surged 24% in the past 24 hours, with its market capitalization reaching 3.2 billion USD and trading volume hitting 1 billion USD, up 30% in the last 24 hours.
Source: CoinMarketCap
