Quick take:
- The Ecosystem Fund is the largest ever joint fund made for any blockchain system.
- Investors include Web3 venture capital firms a16z, Coatue, Union Square Ventures and more.
- Funds will be distributed to existing and future developers who are building applications on the Flow blockchain.
NFT blockchain Flow has announced the launch of its new Ecosystem Fund designed to hypercharge growth and innovation across the Flow ecosystem. At $725 million, the fund is the largest ever joint commitment made towards any blockchain system.
Investors in the fund include Web3 venture capital firms a16z, Coatue, Union Square Ventures, Greenfield One, Digital Currency Group and many more.
Originally developed by Dapper Labs, the company behind CryptoKitties and NBA Top Shots and UFC’s NFT platform, Flow is also integrated with NFT marketplaces such as KuCoin, Rarible, and is coming soon to OpenSea.
The Ecosystem Fund is focused on enabling more distributed and equitable Web3 opportunities and will support existing and future developers in building applications on the Flow blockchain through investments, FLOW token grants and in-kind support.
Flow will distribute the fund to developers across the globe who are building applications on the Flow blockchain, with a focus on support for gaming, infrastructure, decentralised finance, content and creators.
“We are thrilled to see such a strong vote of confidence in the Flow ecosystem from some of the world’s leading investors in Web3 through their commitment to this Fund. With their active participation and support, the Ecosystem Fund has the opportunity to become a real game-changer for the 7500+ strong and fast-growing developer community in the Flow ecosystem,” Roham Gharegozlou, CEO of Dapper Labs, said as he announced the fund.
The blockchain also has a few ecosystem support programs open for application. These include the $10 million Dapper Studio Ecosystem Program to support new builders in creating novel experiences for Web3 consumers focused on gaming and social play and NFT engagement.
There are also Developer Grants that help accelerate the process of building applications on Flow, as well as the ecosystem investments from Dapper Labs which, since kicking off in March, has invested in more than 120 companies.
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