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Innovation

NFT blockchain Flow announces $ 725M fund for Web3 innovation

Flow, one of the leading blockchains in the Web3 arena, has announced the launch of a new fund designed to spur innovation among those building apps, games, and digital assets in the Web3 space.

Flow was originally developed by Dapper Labs, a Fast Company 2022 Most Innovative Company, and the company behind blockchain game hits like CryptoKitties and NBA Top Shot. Flow is currently the leading blockchain for NFT transactions.

Flow’s new fund is called the Flow Ecosystem Fund and, with $ 725 million, is the largest ever joint endeavor aimed at expanding the blockchain ecosystem of any kind. The fund’s investors include Web3-investing heavyweights like a16z, Coatue, Union Square Ventures, Greenfield One, Coinfund, Digital Currency Group, and more.

Flow says it will dole out the fund’s coffers to new and existing devs building products for the Flow blockchains, specifically focusing on those in the infrastructure, decentralized finance, gaming, and digital content space. The fund will be available to developers globally.

Announcing the Flow Ecosystem Fund, Roham Gharegozlou, CEO of Dapper Labs, said, “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. ”

You can find out more about the Flow Ecosystem Fund here.

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