HBAR Foundation Launches $250m Metaverse Fund

BlockchainHBAR Foundation Launches $250m Metaverse Fund


The HBAR Foundation, under the Hedera Network, a distributed ledger platform, launched a $250 million Metaverse Fund, which aims to integrate Hedera Hashgraph’s Web3 metaverse world for consumer brands.

Funding from the $250 million Metaverse Fund will be used in four areas: gaming, sports, fashion, and entertainment, the foundation said. This is the largest fund launch to date, following a $155 million DeFi fund launch in late March.

The HBAR Foundation is an independent non-profit organization of distributed ledger company Hedera Hashgraph and acts as an integrated force multiplier to help builders and creators overcome the challenges of bringing their ideas to market. The HBAR Foundation is accelerating the Hedera ecosystem.

HBAR, which is responsible for developing the Hedera network, said the Metaverse Fund targets both B2C and B2B2C applications and wants to integrate users into Web3 development “at scale.”

Through the fund, the foundation is focused on building an advanced digital world and advancing the ecosystem by supporting and complementing projects, according to the statement. To support game developers within the ecosystem and incorporate NFTs into their projects.

According to Alex Russman, Vice President of the HBAR Foundation, “they see the potential of Web3, so are integrating (non-fungible tokens) NFTs and tokens into that offering, being that hand-hold service that allows a large enterprise to understand how tokens relate and fit into their business.”

Image source: Shutterstock



Learn more

Latest news

Lessons From 22 Ashoka Social Entrepreneurs About Systems Change

With a four decades-long track record of promoting and supporting social entrepreneurship, for-profits and nonprofits alike have a...

Adani Group sheds $68B in value despite 413-page rebuttal to short seller

Billionaire Gautam Adani’s sprawling business empire has lost a stunning $68 billion in market value through Monday —...

How To Look At A Product From All Angles Before Launching

CEO & Founder @ Refocus, EdTech enthusiast, investor, mentor and marketing expert. Even a seemingly proper analysis of supply...

Flare (FLR) Maintains 17% WTD, Here Are 3 Reasons Boosting Price

Godfrey Benjamin Flare (FLR) is trading at $0.0472 after number of ecosystem updates were published FLR, the airdropped native digital...

Dow Jones Futures Fall With Fed Meeting In Sight; Tesla Stock Upgraded To Buy After 33% Surge

Dow Jones futures fell sharply Monday as the market looks to wrap up a strong January performance. The...

Must read

Lessons From 22 Ashoka Social Entrepreneurs About Systems Change

With a four decades-long track record of promoting...

Adani Group sheds $68B in value despite 413-page rebuttal to short seller

Billionaire Gautam Adani’s sprawling business empire has lost...

You might also likeRELATED
Recommended to you