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Flow has launched a $ 725 million developer fund to increase competition

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In an initiative described by the company as the largest joint venture created for any blockchain, Flow Has launched 725 million in funding to support the performance and sustainability of its ecosystem. The fund will primarily focus on creating Web3 regions such as gaming, infrastructure, defense and content creator products.

To develop these areas of its ecosystem, Flow seeks to provide $ FLOW token-supported grants to developers in a scheme called ‘In-Kind Support’. Overall, an expected 7,500 developers are expected to benefit With this kind of support, Flow focuses on both existing developers who are working on proven flow projects like NBA Top Shot and UFC Strike, as well as developers who are still deciding to create blockchain.

Here, Flow says it expects it to capitalize on the ever-competitive and cost-effective (in terms of gas fees) Ethereum ecosystem, which developers are inevitably opposed to joining.

That being said, and despite all such developer-centric focus on funding, Flow CEO Roham Gharegozlo He said the lion’s share of the funds would actually be used as investment capital instead of grants for developers.

As you might have hoped, the Layer 1 blockchain fund, developed by Dapper Labs, is supported by an impressive portfolio of 17 prominent Web3 players, Andreessen Horowitz’s choice of A16z, Coatue, Spartan Group, Union Square Ventures, Greenfield One, Liberty City Ventures, CoinFund, and more.

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* All investment / financial opinions published by NFT Plaza come from the personal research and experience of our site moderators and are intended as educational material only. Individuals need to do thorough research on any product before making any kind of investment.



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