The NBA Top Shot creator Dapper Labs announced the launch of a $725M ecosystem fund for Flow blockchain “designed to hypercharge innovation and growth across the Flow community.”
Andreessen Horowitz, Coatue Ventures, Union Square Ventures, Spartan Group, Coinfund, Digital Currency Group, and Cadenza Ventures, among others, are the investors in this Flow ecosystem fund.
Via investments, Flow token grants, and in-kind support the ecosystem fund will assist current and future developers in developing apps on the Flow network.
The $725M Fund, which is open to developers all around the world, will concentrate on assistance for gaming, infrastructure, decentralized finance, content, and creators.
With three ecosystem programs, this is the largest joint fund developed for any blockchain, accessible to both existing and future developers.
The purpose of the $10M Dapper Studio Ecosystem Program is to accelerate growth and encourage new developers in the industry.
It is also to create brand new gaming and social play experiences for Web3 consumers, as well as new methods for Dapper Labs’ sports NFT holders to have and interact with their NFTs.
The developer grant program ensures that developers may maintain their commitment by providing Flow token rewards for open source maintenance, developer services, product incentives, and educational material.
Dapper Labs is going to invest in the best teams in the Flow ecosystem and the broader web3 space from the ecosystem fund. They’ve invested in over 120 firms since launching their investment activities last March.
Roham Gharegozlou, CEO of Dapper Labs, stated “We are thrilled to see such a strong vote of confidence in the Flow ecosystem from some of the world’s leading investors in web3 through their commitment to this fund.”
A lot of crypto platforms are debuting ecosystem funds to help the community develop further. Last month crypto exchange platform KuCoin launched a $100 million ‘Creators Fund’ to help early-stage NFT projects and digital artists.
