FTX and Solana set up 100 million USD fund to invest in blockchain games

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2021-11-06 03:25:05

FTX, Solana Ventures and Lightspeed Ventures will jointly spend $100 million to support blockchain game projects on the Solana platform.

Top outstanding P2E game projects being built on Solana. Source: Solanians

With the success of games on blockchain games like Axie Infinity, combined with the event Facebook announced its focus on building the metaverse, blockchain gaming is hotter than ever. In the past few days, metaverse projects like The Sandbox (SAND) or blockchain platforms like Enjin and TRON have continuously announced to raise capital or spend huge amounts of money.

Solana is no exception to this trend when announcing that it will spend $ 100 million to set up a fund to develop blockchain games. This initiative is also supported by FTX exchange and investment fund Lightspeed Ventures.

A Lightspeed Ventures representative stated:

“Games are the gateway to bringing billions of new users to Web3. We are excited to partner with FTX and Solana to lead this emerging segment.”

Lightspeed Ventures revealed Faraway Games as one of the first game projects to be supported by Solana’s $100 million fund.

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