DWF Labs has invested $16 million in the Web3 gaming ecosystem RACA, purchasing an undisclosed amount of RACA tokens in the process.

RACA, previously known as Radio Caca, started out as a non-fungible token (NFT) manager for Maye Musk, Elon Musk’s mother, before expanding into Web3 gaming.

With the funding from DWF Labs, RACA will continue to develop its R3 game infra, including its sandbox game USM.WORLD, social party game Looki Looki Jazzi, cross-game DID wallet JAZ, and NFT marketplace.

DWF Labs has been a prominent investor during the crypto bear market, with recent investments including $20 million for derivatives trading platform Synthetix and $40 million for AI-focused crypto protocol Fetch.ai. The RACA token is currently trading flat at $0.0001946, according to CoinMarketCap.

This investment in RACA is expected to help the company expand and establish itself as a major player in the Web3 gaming ecosystem.