Great news for Web3 startups in the SAR! G-Rocket is a start-up accelerator founded by Johnny Ng Kit-chong in 2016, and they’re aiming to support 1,000 Web3 startups set-up in Hong Kong within the next three years. This comes as a part of their push to restore the city’s crypto hub status, comparable to Singapore.

“Hong Kong Web3.0 Hub” is the new program launched by G-Rocket last month to boost the city’s virtual asset economy and industry. The accelerator aims to support startups in various areas such as office space, government resources and banking. It has already attracted more than 150 start-ups to sign up, with the hopes of 1,000 more joining in the next 3 years.

For those of you that are confused on what Web3 is — Web3 is defined as new idea of the World Wide Web. Web3 aims to decentralize the current idea of the Web, utilize Blockchain technology and token-based economics.

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