Ultron Foundation, an entity that develops, oversees and promotes high-performance blockchain Ultron (ULX), scores major partnerships with investment heavyweight Alphabit Fund. Here’s how the partners will leverage each other's resources.
Ultron Foundation inks partnership with Alphabit Fund: Details
According to the official announcement shared by the team of Ultron Foundation, it has scored a comprehensive partnership with Alphabit Fund, a cryptocurrency investing conglomerate. With this partnership inked, Alphabit Fund acquires a portion of ULX, a core native cryptocurrency of Ultron blockchain.
Insight into leading crypto asset fund @alphabitltd investment in Ultron to become a TOP 5 blockchain. 🚀— Ultron (@ultron_found) April 20, 2023
CEO Shadibekov: "This is a monumental moment. In the coming months, we will unveil groundbreaking developments." 📈👇https://t.co/QDGYYrlPlP#defi #ultron #crypto #ulx
Alphabit Fund is among the undisputed leaders of the venture capital segment in the cryptocurrency sphere. It was recognized as one of the top 10 crypto investment funds by Bitcoin Market Journal. In total, it amassed over $1 billion in assets under management (AUM).
The fund was a major player on the crypto market during the 2017 ICO euphoria. During the previous cryptocurrency rally, it invested in 25+ blue-chip Web3 projects, largely from the spheres of NFTs, blockchain gaming, decentralized finance and so on. Yield, Archax and GamiFi are among its notable investment rounds.
Alphabit Fund CEO Liam Robertson is among the prominent figureheads of the cryptocurrency market since its very inception in the early 2010s. He also contributed to a number of regulatory initiatives that shaped the cryptocurrency law landscape in the United States and Europe.
Ultron Foundation CEO Shukhrat Shadibekov, stressed the importance of this partnership for his product and the L1 scene as a whole:
This is a monumental moment in Ultron Foundation's history. Attracting an institutional investor such as Alphabit marks a decisive milestone on the path to Ultron becoming a top 5 blockchain globally and paves the way for more opportunities.
It should be noted that Alphabit Fund becomes the first-ever institutional investor in Ultron Foundation and its products.
Building next-gen multi-purpose blockchain: What is Ultron?
Since the entity of Alphabit Fund is regulated by the DFSA in Dubai, the fact of partnership and investing in ULX lends credibility to Ultron in various crucial cryptocurrency hubs.
Besides fresh funding, collaboration with Alphabit Fund provides Ultron with access to the fund's existing and future portfolio companies. This, in turn, strengthens Ultron's ecosystems and unlocks amazing opportunities for new partnerships and integrations.
With new finance and ecosystem instruments, Ultron will accelerate its progress toward leadership in the smart contracts segment. The team of the blockchain introduces itself as one of the most convenient and reliable smart contracts platforms for pros and newbies.
In the last seven days, ULX, a native cryptocurrency of Ultron and a cornerstone element of its tokenomic design, added 15% in value that reflects the confidence of small and big investors.
More partnerships and integrations to be announced
Thanks to the strict requirements of the Dubai regulator, both Ultron Foundation and the Alphabit Fund team are avoiding sharing extra details of the partnership. The next steps in the collaboration are yet to be announced.
Q2, 2023, is a crucial period for Ultron's tech development, massive adoption and marketing. On April 19, 2023, the opportunity to bridge ULX tokens via Polygon, the largest EVM-compatible blockchain, was enabled.
In addition, the platform shared its crucial accomplishment: the number of on-chain wallets created by ULX holders exceeds 90,000 accounts.