HBAR Foundation Commits $250M to Drawing Metaverse Apps to Hedera

4/7/2022 4:03:00 PM

The announcement follows a $155 million DeFi fund launched at the end of March.

After putting up $155 million in tokens last month for wooing DeFi projects, the HBAR_foundation is committing $250 million to a metaverse push. $HBAR elitanjourno reports

The announcement follows a $155 million DeFi fund launched at the end of March.

By Apr 7, 2022 at 1:00 p.Table of Contents Beanstalk Model: Credit-based and Capital Efficient Beanstalk Model: Price Stablility The Field: a decentralized credit facility The Silo: a decentralized governance mechanism Beanstalk Today and in the Future DeFi.global attention to the term 'metaverse' when he decided to shift his focus from social media apps to a whole new world where people could not only communicate but also work and play.CoinMarketCap: Read what our contributors have to say.

m.UTC (Henry & Co./Unsplash) Hedera Hashgraph is eyeing the metaverse with its latest venture fund, putting $250 million in HBAR tokens towards its development.Surprisingly, the interest in metaverse came from outside the U.The Thursday announcement, made by the HBAR Foundation, comes just a week after the network launched a $155 million “Crypto Economy Fund” focused on decentralized finance (DeFi).The metaverse fund targets business-to-consumer and business-to-business-to-consumer projects that Hedera hopes will onboard users into Web 3 and its ecosystem, with a focus on “gaming and virtual worlds, consumer brands and collectibles, sports and fan engagement and enterprise metaverse,” according to a press release.

Hedera is known for its blockchain-esque distributed ledger technology (DLT), which was recently made Ethereum Virtual Machine (EVM) compatible.The U.With a package of large token incentives, the network’s backers are looking to attract applications that have clicked on other chains.Read more: Hedera, Newly EVM-Compatible, Woos DeFi With $155M HBAR Fund “We see this whole metaverse area as a bit of a catch-all for the apps bringing in new users into Web 3,” Alex Russman, a VP at the HBAR Foundation, told CoinDesk in an interview.“I see 2021 as the year of NFTs, and 2022 as the year of their enterprise applications.This should be rather worrying for Meta which has not only poured tens of billions into the metaverse in the past two quarters but also opened up its metaverse worlds to customers only in the U.” Enterprise NFTs Sayl , a company that helps brands use non-fungible tokens (NFTs) in a commercial context, currently partnered with over 300 companies, according to a press release.

Russman told CoinDesk two areas of particular interest for Hedera are virtual fashion and gaming, two sectors the company already feels well-connected with.One of the 39 companies on Hedera’s “Governance Council,” a group assembled to oversee the network’s operations and strategy, is gaming giant Ubisoft, which joined the council a little over a month after its own last December.Even as the investment potential of the metaverse continues to rise, the interest of the general public is waning.DISCLOSURE The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a.

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HBAR_foundation elitanjourno With Google as a interested party. I’m interested to see how this plays out. HBAR_foundation elitanjourno imho the most interesting project this year $WE HBAR_foundation elitanjourno thats it im selling, noone actually cares about the metaverse HBAR_foundation elitanjourno Parait des news comme celle la en plien milieu du une correction 👌

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