fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, March 28, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

Solana Launches $100m Web3.0 Fund for South Korean Startups

June 9, 2022
in Blockchain
Reading Time: 2 mins read
A A
Solana Launches $100m Web3.0 Fund for South Korean Startups
ShareShareShareShareShare

Solana, one of the biggest Layer-1 blockchain protocols, through its subsidiaries Solana Ventures and Solana Foundation, has launched a $100 million fund to back startups in the South Korea Web3.0 ecosystem. 

Related articles

Titanium Blockchain CEO Sentenced to Four Years in Prison

Titanium Blockchain CEO Sentenced to Four Years in Prison

March 28, 2023
Coinbase Identifies Four Key Innovations for its Layer-2 Network

Coinbase Identifies Four Key Innovations for its Layer-2 Network

March 27, 2023

As reported by TechCrunch, drawing on the exclusive interview with Johnny Lee, general manager of games at Solana Labs, the fund will focus exclusively on GameFi, Non-Fungible Tokens (NFTs), and Decentralized Finance (DeFi) in South Korea.

Unlike other famous ecosystem funds that Venture Capital firms are backing, this Solana fund drew capital from the protocol’s treasury in addition to the venture arm’s pool of capital. 

The investment into the South Korean Web3.0 ecosystem is a testament to the growing acclaim in the growth of developers introducing a series of Web3.0 initiatives in the country. Despite attaining undue popularity as the host nation of Do Kwon’s collapsed Terra protocol, Solana has looked beyond the woes to throw its weight behind the industry’s growth.

“A big portion of Korea’s gaming industry is moving into web3,” Lee said. “We want to be flexible; there’s a wide range of project sizes, team sizes, so some of [our investments] will be venture-sized checks.”

On the gaming aspect in which the fund will back, it has been very glaring over time that blockchain gamers only back applications that offer incentives at the expense of the fun that can be experienced from playing games. With the dedicated funds, Solana will work towards ensuring that things actually change moving forward as protocols that will be backed will be vetted on all grounds, including the thrills and economics part.

While the advent of Web3.0 gaming is still largely shaping up, Lee is confident these gaming models are bound to dominate in the near term.

“Free-to-play adoption probably took eight years, so if we say it’ll take four years for web3 games to be the dominant revenue model, I’m pretty comfortable with that,” he said.

Image source: Shutterstock

Credit: Source link

ShareTweetSendPinShare
Previous Post

Terra’s Anchor protocol users vote to halt ‘earning and borrowing’

Next Post

Salesforce trials NFT service amid plunging trading volumes

Related Posts

Titanium Blockchain CEO Sentenced to Four Years in Prison

Titanium Blockchain CEO Sentenced to Four Years in Prison

March 28, 2023

In a cryptocurrency fraud scheme that took place in late 2017 and early 2018, investors purchased BARs, a crypto token,...

Coinbase Identifies Four Key Innovations for its Layer-2 Network

Coinbase Identifies Four Key Innovations for its Layer-2 Network

March 27, 2023

Coinbase, a leading cryptocurrency exchange, has outlined four critical innovations that should be built on its newly launched layer-2 network,...

Investors Flock to US Money Market Funds Amid Banking Crisis

Investors Flock to US Money Market Funds Amid Banking Crisis

March 27, 2023

As the global banking crisis continues to fuel concerns among investors, the popularity of US money market funds is surging....

Venezuela Shuts Down Crypto Mining Operations

Venezuela Shuts Down Crypto Mining Operations

March 27, 2023

Venezuela, a country known for its volatile political climate, has recently made headlines for shutting down several crypto mining facilities...

Euler Finance Hacker Returns Majority of Stolen Funds

Euler Finance Hacker Returns Majority of Stolen Funds

March 27, 2023

In a dramatic turn of events, the hacker behind the $196 million exploit on the lending protocol Euler Finance has...

Load More
Next Post
Salesforce trials NFT service amid plunging trading volumes

Salesforce trials NFT service amid plunging trading volumes

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ARK Invest Buys Coinbase Shares Despite Wells Notice

ARK Invest Buys Coinbase Shares Despite Wells Notice

March 25, 2023
Messari CEO Backs Ripple, Hopes XRP to Win

Messari CEO Backs Ripple, Hopes XRP to Win

March 22, 2023
Crypto Firms Looking to Set Up in Hong Kong: Christopher Hui – Regulation Asia

Crypto Firms Looking to Set Up in Hong Kong: Christopher Hui – Regulation Asia

March 22, 2023
Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements – Taxes Bitcoin News

Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements – Taxes Bitcoin News

March 21, 2023
Bitcoin Price Will Hit $50,000 In Under A Year, This Economist Says

Bitcoin Price Will Hit $50,000 In Under A Year, This Economist Says

March 22, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Titanium Blockchain CEO Sentenced to Four Years in Prison
  • Vaneck CEO Predicts Bull Cycle for Bitcoin and Gold — Expects Fed Tightening to End Soon – Markets and Prices Bitcoin News
  • Do Kwon’s Montenegro detention extended, registered Serbian company before arrest as fugitive
  • SD lawmakers fail to override Gov. Noem's cryptocurrency regulation veto – Fox News
  • Coinbase Identifies Four Key Innovations for its Layer-2 Network
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$26,979.00-3.28%
  • ethereumEthereum(ETH)$1,709.46-3.55%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$309.83-5.40%
  • usd-coinUSD Coin(USDC)$1.000.15%
  • rippleXRP(XRP)$0.4750546.01%
  • cardanoCardano(ADA)$0.345230-2.27%
  • dogecoinDogecoin(DOGE)$0.072838-1.60%
  • staked-etherLido Staked Ether(STETH)$1,699.23-4.01%
  • matic-networkPolygon(MATIC)$1.04-5.58%
  • binance-usdBinance USD(BUSD)$1.000.28%
  • solanaSolana(SOL)$19.76-5.19%
  • polkadotPolkadot(DOT)$5.82-3.50%
  • litecoinLitecoin(LTC)$87.36-6.27%
  • shiba-inuShiba Inu(SHIB)$0.000010-2.23%
  • tronTRON(TRX)$0.063741-0.53%
  • avalanche-2Avalanche(AVAX)$16.41-3.07%
  • daiDai(DAI)$1.000.08%
  • uniswapUniswap(UNI)$5.61-2.85%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,020.00-3.26%
  • chainlinkChainlink(LINK)$6.81-5.79%
  • leo-tokenLEO Token(LEO)$3.38-2.61%
  • cosmosCosmos Hub(ATOM)$10.74-4.75%
  • ToncoinToncoin(TON)$2.10-0.75%
  • ethereum-classicEthereum Classic(ETC)$19.77-2.14%
  • moneroMonero(XMR)$151.05-5.67%
  • okbOKB(OKB)$42.551.46%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • stellarStellar(XLM)$0.0918740.28%
  • bitcoin-cashBitcoin Cash(BCH)$120.17-2.83%
  • filecoinFilecoin(FIL)$5.31-6.10%
  • true-usdTrueUSD(TUSD)$1.000.37%
  • AptosAptos(APT)$10.97-8.07%
  • lido-daoLido DAO(LDO)$2.06-4.19%
  • hedera-hashgraphHedera(HBAR)$0.058566-4.61%
  • quant-networkQuant(QNT)$118.43-3.43%
  • crypto-com-chainCronos(CRO)$0.067537-1.96%
  • nearNEAR Protocol(NEAR)$1.83-6.17%
  • vechainVeChain(VET)$0.021762-4.69%
  • ArbitrumArbitrum(ARB)$1.13-14.12%
  • apecoinApeCoin(APE)$3.89-2.95%
  • algorandAlgorand(ALGO)$0.199455-4.98%
  • internet-computerInternet Computer(ICP)$4.71-5.28%
  • blockstackStacks(STX)$0.88-12.33%
  • eosEOS(EOS)$1.08-4.82%
  • the-graphThe Graph(GRT)$0.132742-5.48%
  • fantomFantom(FTM)$0.406166-7.84%
  • the-sandboxThe Sandbox(SAND)$0.59-5.89%
  • fraxFrax(FRAX)$1.000.07%