Egyptian Web3-focused Venture Studio, Qurious Labs Secures Funding From Openner

Qurious Labs, an Egyptian Web3-focused venture studio, has raised money from Openner in an effort to support fearless businesspeople in the MENA area who are developing Web3 businesses that leverage blockchain, virtual currencies, NFTs, and games to explore the Metaverse.

Qurious Labs is able to collaborate with Web3 creatives and engineers that have incredibly low resources and produce world-class products with them by fusing the incentive structure of a co-founder, the assets of a development agency, and the network of a venture fund.

As a studio, its objective is to enable people to profit from and own a piece of this new internet while assisting developing markets in gaining access to a global talent and financial pool.

According to studio director Ahmed El Wassimy, Web3 will have the greatest impact on society and business since the internet’s inception. We’re pleased to set out on this adventure to bridge the gap between Web3 and developing marketing in the Middle East and North Africa, where more than 500,000 developers are constructing the infrastructure that will shape an always-on, economically equal future for society.

Now that Openner, an Egyptian venture capital firm, has supported the venture studio, more VCs are likely to recognize the value of the venture studio model and the potential that Web3 has in emerging countries by utilizing open protocols on the blockchain and token economics.

In the words of Kareem Karam, venture architect at Qurious Labs, “Web3 is the golden period for makers and artists.” We are excited to collaborate with policymakers to develop a vision for how to use these potent new tools to serve society and make sure they reach their full potential because we believe Web3 has the potential to be a force for good.

According to Ash Rofail, general partner at Openner, the development of Web3 will alter how we manage, engage in, and coordinate networks as well as how we value our time.

He added, “We think Qurious Labs is well positioned and resourced to unleash that potential and prioritize the creation of world-class, decentralized digital infrastructure for communities all around the world.