The HBAR Foundation, an organization devoted to the growth of the Hedera Hashgraph ecosystem, has announced the launch of a Metaverse fund that will offer $250 million in incentives.
HBAR Foundation Launches $250 Million Metaverse Fund to Entice Developers to Build on Hedera
The HBAR foundation, a nonprofit organization designed to accelerate the development of the Hedera Hashgraph ecosystem, has announced the launch of a new Metaverse fund. The fund, which launches with $250 million, will serve to entice builders and programmers to bring their metaverse products to the Hedera network and make use of its decentralized ledger technologies.
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.On why the HBAR Foundation believes that Hedera is an ideal platform for metaverse inspired apps, it stated:DLT [Decentralized Ledger Technology] is the core component of such infrastructure and it is the Hedera network that is best architected to meet the DLT demands of enterprise platforms and their complex economies.
a “wealth of experience and financial backing … accelerating the development of applications in high-growth target areas.”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. In the gaming space, it aims to include more of these projects by using middleware services that allow for rapid deployment of projects in the environment.