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Hedera Hashgraph has announced the formation of a new $250 million venture capital fund focusing on the Metaverse.
The HBAR Foundation (THF) announced the new Fund in a news statement Friday, stating its goal is to "expand consumer adoption of Hedera and speed application development in high-growth priority sectors."
THF stated the following about the almost $200 billion gaming industry: "THF aims to support game developers as they enter Web3 and introduce NFTs into their experiences. One key approach here is supportive ecosystems and product suites for building on the Hedera network. Partners like Venly exemplify this by providing developer tools, a market API, and a user-friendly wallet for quick deployment on Hedera. Expect to see more such partner ecosystems announced and working as BD partners for acquisition of Hedera projects."
Apart from gaming, THF expanded the scope of the new Fund to include four more important mega-industries: consumer brands and collectibles, social platforms and fan interaction, and the business metaverse.
The Metaverse Fund will invest in B2C and B2B2C products that enroll users at scale into Web3 and, implicitly, the Hedera ecosystem,” THF stated.
Hedera’s new metaverse fund follows the introduction of a $155 million “Crypto Economy Fund” focusing on decentralized finance earlier this month (DeFi). According to Hedera, the Crypto economy focuses on three primary goals: