CMB International, a subsidiary of China Merchants Bank, a major Chinese commercial bank, is planning to launch a $ 50 million fund for blockchain investments with the Nervos Foundation.
The new fund, called InNervation, will invest in projects developing decentralized applications and decentralized finance protocols, as well as non-fungible token markets. Considering that the fund is being launched jointly with the Nervos Foundation, the priority will be projects that create their platforms on the Nervos blockchain, or plan to add support for this network.
It is planned that $ 50 million will be distributed over three years, with an average investment of $ 200,000 to $ 2 million. In addition to funding, the fund will provide access to various tools to facilitate the development of projects on the Nervos blockchain. For example, a decentralized exchange, an Ethereum compatibility level called Polyjuice, or a Godwoken roll-up solution.
Note that China Merchants Bank has been cooperating with the Nervos project for a long time, including through the BitPie wallet. Earlier, the Nervos Foundation launched a $ 5 million fund to invest in DeFi.
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