Bahamas-based VC fund "commits" USD 75 mln to Romanian startup ZoidPay

Romanian "blockchain technology and crypto liquidity startup" ZoidPay, which aims to become "the largest open source Web 3.0 architecture platform in the world," attracted a USD 75 million investment from GEM Digital Limited ("GEM"), a Bahamas-based investment firm "focused on the area of blockchain and cryptocurrencies," Ziarul Financiar announced.

ZoidPay, the leading Web 3.0 architecture provider, has secured an investment commitment of USD 75 mln from digital asset investment firm GEM Digital Limited ("GEM"), the official press release reads, though.

Superficial investigations on the GEM digital asset investment firm reveal, however, what this investment in the metaverse actually is, and whether one should or not put their money into the coins or tokens ZoidPay will most likely soon issue. The answer is: better "commit" but rather not pay, if possible.

Bahamas-based GEM Digital Limited has "committed" billions of US dollars over the past several months to such ambitious projects - nothing wrong here. But in contrast to the most funding news, in which an investment institution directly announces an actual investment in a project, GEM Digital is basically announcing that it "is issuing an investment commitment," influential crypto blog Wu-talk.com explains.

In brief, such "investment commitments" are primarily aimed at increasing awareness among investors hoping for stellar profit rates derived from trading coins and tokens.

"In other words, GEM Digital's investment agreement is more like a cooperation and sharing agreement, where both parties sign a so-called huge investment agreement, create good news in the market, and then collaborate to make profits and share them," explains Colin Wu in an article dated July (since then, GEM has "committed" more hundreds of millions of dollars).

In the crypto world more than in other investment universes, the meme stories filled with buzzwords are gold ("developing the go-to open architecture for building the next generation of financial services, scaling the first on-demand Metaverse, facilitating the first-ever bank acquisition by a blockchain firm, and launching a Web 3.0 super App" - this is what ZoidCoin plans to achieve). The scheme resembles the digital version of