GEM Digital commits $25M in capital to AirDAO

AirDAO, a community-governed blockchain ecosystem of Web3 decentralized applications, has secured committed financing of $25m over the next two years from GEM Digital, a Bahamas-based digital asset investment firm. The funding will provide long-term financial stability and flexibility for the ecosystem to raise capital as needed. AirDAO recently passed a tokenomics upgrade proposal with a hard cap on the total AMB supply and allocations for specific use cases including investors and ecosystem funding. AirDAO has grown rapidly since its launch in September, expanding from nine to over 30 staff with eight official international communities. The platform aims to make DeFi accessible to an average user with its intuitive interface and suite of products. AirDAO also maintains a strong working relationship with Binance, the world’s largest cryptocurrency exchange. GEM Digital is part of The Global Emerging Markets Group, a $3.4bn alternative investment group founded in 1991 that manages diverse investment vehicles focused on emerging markets worldwide, with investments in 580 companies across 75 countries. GEM Digital sources, structures and invests in utility tokens listed globally on over 30 centralized exchanges and decentralized exchanges. The deal accelerates the rapid growth of the AirDAO ecosystem and funds the development of new Web3 products.