The launch of a Metaverse Fund was announced by the HBAR Foundation, a non-profit foundation that aims to speed up the Hedera Hahgraph ecosystem’s development. Fund launch with $250 Million will be used to encourage builders and programmers, as well as developers, to contribute their metaverse products and use the Hedera network’s decentralized ledger technologies.
HBAR Foundation Wishes for the Metaverse on Hedera
Many organizations offer incentives to help these experiences be created using their infrastructure. The HBAR Foundation, an organization devoted to the growth of the Hedera Hashgraph ecosystem and the apps on it, has announced the launch of the THF Metaverse Fund that will offer $250 million in incentives to programmers that want to bring their metaverse apps to life by using Hedera Hashgraph’s tools.
The HBAR Foundation stated why Hedera is a great platform for creating metaverse inspired apps.
DLT [Decentralized Ledger Technology]This is the foundation of infrastructure. The Hedera network, which is designed specifically to support enterprise platforms and complex economies with DLT needs, is the most important component.
Additionally, the foundation believes that they will be able help entrepreneurs in this area overcome any difficulties associated with launching products. with a “wealth of experience and financial backing … accelerating the development of applications in high-growth target areas.”
Specific Developments
The foundation offered some examples — referencing projects such as Tunefm and Siki — in which they are working with different brands in the metaverse and NFT space that want to develop their products on this blockchain. The foundation aims at involving more gaming projects through middleware services, which allow rapid deployment of the projects.
The company announced that it would be launching a new collection of consumer brands.
[The foundation is]Working with partners from the industry who can trust brands to guide them through the Web3 space.
The enterprise metaverse sector is also being given special importance by the organization, which believes that middleware directed to support this kind of product is “key to powering future virtual economies.” In this sense, the company expects these products to also be developed on Hedera due to its favorable traits.
Hedera’s metaverse fund joins other funds that also center their interest on the development of the metaverse, which, according to a recent survey, will be a popular place to buy, store, and sell cryptocurrencies.
What do you think about Hedera’s $250 million metaverse fund? Leave a comment below.
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