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Blockchain

Near Foundation Launches New $100m Web3.0 Fund

Near Foundation, the Switzerland-based Non-Profit answerable for the Near Protocol has launched a brand new $100 million Web3.0 fund.

As introduced by the agency, the brand new fund is being floated in partnership with Caerus Ventures, a brand new Venture Capital fund whose main focus is hinged on creators, skills, and IP homeowners.

With a plan to strengthen new protocols with seed rounds that might be as excessive as $100 million, the Near Foundation stated it could inject the biggest chunk of this focused fund with $50 million. 

“Our cultural passions for live sport, film, or music have historically been leveraged to on-ramp billions of consumers to new technologies. The creators, talent, and franchises with reach and influence spearheaded that growth and will now drive the adoption of blockchain at scale. But this time, they and their fans will have greater access to the value created,” stated Marieke Flament, CEO of the NEAR Foundation.

Near Protocol is a significant blockchain community at the moment the twenty third largest digital forex by market capitalization. At $4.97 and a market cap of $3.88 billion, the NEAR coin has been tagged as some of the resilient cryptocurrencies because the crypto onslaught began. 

With the Near Foundation notably pushing the frontlines of the blockchain’s ecosystem, extra relevance is now being hooked up to the protocol as an entire. While it isn’t instantly clear if the brand new Web3.0 fund spinoff will focus fully on creators constructing on the Near Blockchain, the fund directors stated these and extra modalities are but to be finalized.

Earlier in April, the Near Protocol, for the second time, raised the sum of $350 million in funding from buyers that was led by Tiger Global. The funding rounds have been aimed toward bolstering the Near ecosystem.

Image supply: Shutterstock

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