Dapper Labs, the company behind the NBA Top Shop platform and creator of the Flow blockchain, announced the launch of a $725 million fund to develop the Flow ecosystem.
Funding for the new fund was provided by 17 venture capital firms, including a16z, Spartan and CoinFund. As part of this initiative, it is planned to attract developers, especially those associated with the NFT. Teams developing games, infrastructure projects and decentralized finance projects will also receive funds. Part of the money will go towards attracting content creators.
“This is the largest multi-investor fund for any blockchain. The funds will be allocated both to projects already working on Flow and to developers of new ones,” emphasized representatives of Flow in the social network Twitter.
The Flow blockchain is based on the Proof-of-Stake algorithm. It has become one of the fastest Tier 1 blockchains and the third most traded collectible token (NFT). Last fall, it was reported that Dapper Labs plans to integrate support for the Filecoin network into Flow to create a decentralized NFT storage.
Source: Bits
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