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 Ventures Set Up $100M Fund For South Korean Startups

June 8, 2022
in Crypto News
Reading Time: 2 mins read
A A
Solana Ventures Set Up $100M Fund For South Korean Startups
ShareShareShareShareShare

The $100 million investment and grant fund has been launched to fund Web3 startups in South Korea, primarily those involved in DeFi and GameFi. 

Solana Continues Expansion 

The fund has been established through the efforts of both Solana Ventures (the VC arm of the Solana ecosystem) and the Solana Foundation (the non-profit arm of the ecosystem). The fund will be supporting the growth and development of the projects centering around non-fungible tokens (NFT), blockchain gaming, and decentralized finance (DeFi) in South Korea. One of the contributors to the fund will be the Solana community treasury, while another source is Solana Venture’s pool of capital. 

The GM for Games at the Solana Foundation, Johnny B. Lee, has commented on the decision to expand into the South Korean market, saying, 

“A big portion of Korea’s gaming industry is moving into web3. 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…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.”

Solana Taking Over GameFi

Solana has been eyeing the GameFi market for a while, attempting to assert its position as a gaming-friendly blockchain. It has been consistently making investments in GameFi since last year. The first of its kind was the $100 gaming fund launched in partnership with crypto exchange FTX and Lightspeed Ventures in November 2021. The Solana team followed it up soon enough with another project – a $150 million investment in blockchain gaming in partnership with Griffin Gaming Partners and Forte. It continued its GameFi expansions in 2022 as well, with a $500,000 investment in the Southeast Asia market in partnership with YGG SEA. 

The play-to-earn model of several games like Axie Infinity has been criticized in the past on the grounds of not being fun enough for players who only used it as a money-making platform. However, according to Lee, that would be changing soon as several “high quality and fun games” would be launching on Solana by the end of the year.  

Helping Hand For Terra

The projects all need to be built on the Solana blockchain to be eligible for this funding. However, the fund is also supporting some select Terra-based projects to help out after its devastating crash last month. The Solana Foundation does not want the developers working on the Terra blockchain to suffer the consequences of the complete breakdown of the ecosystem. In fact, Lee has already pointed out that “the developers did nothing really wrong, but they’re left in the lurch.” 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


Credit: Source link

Related articles

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

March 27, 2023
U.S. regulator sues CZ – Desperate attempt to damage Binance?

U.S. regulator sues CZ – Desperate attempt to damage Binance?

March 27, 2023
ShareTweetSendPinShare
Previous Post

Is SHIB’s sluggish phase set to persist?

Next Post

The CandyDEX Token Is Ready To Hit the Moon. Big Whales Hold More than 23% of “CANDYDEX” Tokens

Related Posts

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

Shiba Inu: Billion-$-industry in Paris begin accepting SHIB as payment

March 27, 2023

Shiba Inu, among other crypto assets supported by Binance Pay and Alchemy Pay, can be used to pay for Instapower...

U.S. regulator sues CZ – Desperate attempt to damage Binance?

U.S. regulator sues CZ – Desperate attempt to damage Binance?

March 27, 2023

The CFTC is suing Binance CEO Changpeng Zhao, accusing him of breaching trading rules. Operation Choke point 2.0 continues. Attacks...

Cardano news hints at possibility for product integration from Avorak AI

Cardano news hints at possibility for product integration from Avorak AI

March 27, 2023

AI integrations in the rapidly changing world of Blockchain technology are a must for secure, scalable, and user-friendly applications. A...

Binance and CEO Changpeng Zhao Face Legal Action by U.S. CFTC For Alleged Derivatives Trading Violations

Binance and CEO Changpeng Zhao Face Legal Action by U.S. CFTC For Alleged Derivatives Trading Violations

March 27, 2023

Binance, one of the world’s largest cryptocurrency exchanges, has been facing regulatory concerns from authorities around the world. The exchange...

Bitcoin Price Analysis: Orbiting 27901

Bitcoin Price Analysis: Orbiting 27901

March 27, 2023

BTC/USD Orbiting 27901 Level:  Sally Ho’s Technical Analysis – 28 March 2023 Bitcoin (BTC/USD) worked to sustain marginal gains early...

Load More
Next Post
The CandyDEX Token Is Ready To Hit the Moon. Big Whales Hold More than 23% of “CANDYDEX” Tokens

The CandyDEX Token Is Ready To Hit the Moon. Big Whales Hold More than 23% of "CANDYDEX" Tokens

Leave a Reply Cancel reply

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

Over 1,200 German banks to offer Bitcoin and Ethereum(ETH) to customers through new partnership

Over 1,200 German banks to offer Bitcoin and Ethereum(ETH) to customers through new partnership

March 26, 2023
3 Times SHIB ‘Shocked & Surprised’ Its Own Investors

3 Times SHIB ‘Shocked & Surprised’ Its Own Investors

March 22, 2023
Why We Opened The Belgrade Bitcoin Hub

Why We Opened The Belgrade Bitcoin Hub

March 25, 2023
US Crypto Crackdown Could Stifle Innovation and Weaken Dollar

US Crypto Crackdown Could Stifle Innovation and Weaken Dollar

March 24, 2023
Op-ed: The unspoken Ethereum revolution: Are EOAs becoming obsolete?

Op-ed: The unspoken Ethereum revolution: Are EOAs becoming obsolete?

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%