Blockchain, host of NBA Top Shot, announced that it has launched a new $725 million Ecosystem Fund, backed by crypto-focused VCs including its parent company’s investment arm Dapper Ventures, a16z, Coatue and Digital Currency Group.
Dedicated to driving developments in its ecosystem, the fund will offer investments, in-kind support and FLOW token grants to eligible developers creating applications on the blockchain.
$725 Million Funding From The Blockchain Giant
Flow, a leading network known for good NFT projects, aims to foster innovation with funding and develop new projects on its platform.
The Flow statement stated that the Ecosystem Fund will be used to support “games, infrastructure, decentralized finance, content and creators.” The fund specifically aims to bring web3 opportunities to developers worldwide.
Flow will offer its developers office space in Berlin and other Asian cities. Funding will go primarily to four areas: product development, product scaling, team expansion, user acquisition and operating overhead.
Dapper Labs CEO Roham Gharegozlou added that the fund will be a real game changer for the ecosystem’s “7,500+ strong and fast-growing developer community.”
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