Hedera Hashgraph Launches $250 Million Metaverse Fund

Last updated: Mar 30, 2023
3 Min Read
AI Generated Summary

Hedera Hashgraph has launched a new quarter-billion venture fund focused on the Metaverse.

The HBAR Foundation (THF) announced the new fund in a press release Friday, voicing its intention to “bring consumers into the Hedera ecosystem at scale and accelerate the development of applications in high-growth target areas.”

In regards to the nearly $200 billion gaming industry, THF said:

“THF aims to support game developers as they enter Web3 and introduce NFTs into their experiences. One key approach here is supportive ecosystems and product suites for building on the Hedera network. Partners like Venly exemplify this by providing developer tools, a market API, and a user-friendly wallet for quick deployment on Hedera. Expect to see more such partner ecosystems announced and working as BD partners for acquisition of Hedera projects.”

Image via Shutterstock

Besides gaming, THF also put four other key mega-industries in the new fund's scope, including consumer brands and collectables, social platforms and fan engagement, and enterprise metaverse.

The Metaverse Fund targets both B2C and B2B2C applications that will onboard users at scale into Web3 and de facto into the Hedera ecosystem,” THF said.

“However, beyond that focus on growth of Hedera users and network TVL, there is a Fund focus on building an advanced and interesting metaverse, an ecosystem of supporting and complementing projects. This means the Fund also drives development of NFT markets and SI Partner expertise. Expect to see more emerging tech innovators such as [NFT verification tech firm] Rev3al join the THF family and see us build the metaverse together.”

Hedera’s new metaverse fund comes just a month after it launched a $155 million "Crypto Economy Fund" focused on decentralized finance (DeFi). The Crypto Economy focuses on three main objectives according to Hedera, which include increasing mainstream retail access to DeFi, establishing modular yield generation opportunities, and strengthening centralized and decentralized liquidity

Coin bureau logo circle.jpg

The Coin Bureau news team comprises a group of talented writers and analysts committed to delivering timely and accurate information about the world of cryptocurrency. Led by a seasoned editor-in-chief with extensive experience in financial journalism, the team boasts diverse backgrounds and skills, from technical analysis to industry insights.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Previous article
Nasdaq Survey Says Most Financial Advisors Want a Spot Bitcoin ETF Before Allocating to Crypto
next article
Crypto Exchange Coinbase Opens Trading Services in India After Big Hiring Spree