According to The Block, Anatoly Yakovenko, CEO of Solana Labs, said in an interview at this year’s Breakpoint in Lisbon that Solana Labs’ $250 million crypto game and social fund over the past year has only been partially used with focus are small seed round investments.
The focus is on small seed rounds, where social media funds have deployed “under half” to date. Current social media services include Dispatch, Squad, Dialect, and Wordcell, and 37 games that are live or ready to go.
Anatoly Yakovenko shared that the platform was able to save its investments due to the interest of well-capitalized venture funds.
Earlier at Breakpoint 2021, Solana Labs announced two flagship funds: a $100 million fund focused on decentralizing social media and a $150 million fund to incentivize blockchain-based gaming.
The social media fund is partnering with Reddit co-founder Alexis Ohanian, while the game fund is partnering with blockchain gaming startup Forte and venture capital firm Griffin Gaming Partners, and is expected to fully implemented within 18 months.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
Coincu News
So, you’re on the lookout for the next big thing in crypto? Aren’t we all?…
Miami, Florida, 13th November 2024, Chainwire
Robinhood Crypto has expanded its U.S. platform with the addition of Solana, Pepe, Cardano, and…
If you’ve been following the crypto space, you already know that Chainlink (LINK) has been…
BlackRock BUIDL funds have been expanded to Arbitrum, Aptos, Avalanche, Optimism, and Polygon.
Tokyo-based Metaplanet Bitcoin holdings grew by $28 million, doubling to 1,018.17 BTC since late September.
This website uses cookies.