Egypt's VC, Openner Launches Web3-focused Qurious Labs

Egypt's VC, Openner Launches Web3-focused Qurious Labs

Openner, an Egyptian venture capital firm, has launched Qurious Labs, a Web3-focused venture studio, to assist in market development and access to the global technology, talent, and capital pool.

Qurious Labs is the MENA market’s first Web3-focused Venture Studio model. This model will assist entrepreneurs in the Middle East and North Africa in developing web3 companies that leverage blockchain, digital currencies, NFTs, and gaming, as well as explore the Metaverse and decentralized applications.

The Venture studio will also work with Web3 creatives and technologists who have extremely limited resources and launch world-class products with them by combining the incentive structure of a co-founder, the resources of a development agency, and the venture fund network.

According to Ahmed El Wassimy, the Studio Director, the goal of the studio is to help developing markets gain access to global talent and capital pool while also empowering people to earn and own a piece of the new internet.

“We are convinced that web3 will have the greatest impact on society and business since the internet’s inception. Over 500,000 developers worldwide are leveraging web3 to create the infrastructure that will shape an always-on, economically equitable future for society, and we’re excited to embark on this journey to bridge the gap between web3 and emerging marketing in the Middle East North Africa.”

What Openner Intend to Achieve with Qurious Labs

Qurious Labs’ primary goal is to provide a complete ecosystem for builders to launch their web3 ventures and brands to experiment with web3 business models. They accomplish this by serving as a one-stop shop for builders to build and launch their web3 projects. To build and fund resilient communities, platforms, and economies, builders gain insightful knowledge from experienced builders, thought leaders, and veteran investors.

The venture studio is equally building a network of web3 talent and expertise in a variety of fields, including UX/UI, full-stack, content creation, community building, marketing, and game design & development, to leverage and contribute to web3 projects and have ‘ownership’ in high-quality projects before anyone else.

Kareem Karam, Venture Architect at Qurious Labs noted that “Web3 is the golden age for creators and artists. We see the potential of Web3 as a force for good, and we are eager to work with policymakers to define a vision for how to use these powerful new tools to benefit society and ensure they realize their full potential.”

Many well-known venture capitalists are betting big on web3 business models and gaming. After the global recession passes, the team at Qurious Labs believes that web3 will gain prominence. According to El Wassimy, the old ways of raising money and growing at all costs are no longer viable. Web3 communities and networks will encourage participants to become owners and investors in the networks they want to be a part of and help grow. This will be a completely new way of raising capital from your early supporters and die-hard fans. That is the power of web3, and there is no better time to build for it.

Qurious Labs is focusing on venture building and venture support to on-ramp adoption for emerging markets in MENA while delivering and capturing value with web3 communities globally.

Ash Rofail, General Partner at Openner, noted “The way we coordinate, govern, and participate in networks will change the way we work and value our time with the growth of web3 and we believe that Qurious Labs is well positioned and resourced to unlock that potential and prioritize the development of world-class, decentralized digital infrastructure for communities everywhere.”