SOLANA WILL INVEST UPTO $100M INTO S.KOREAN CRYPTO STARTUP
Two key players in the fast-paced network ecosystem, Solana Ventures and the Solana Foundation, will invest in funding and grants "across all web 3 verticals," the media release said. But their emphasis will be on liking the development of the South Korean crypto games industry.
A weeks-long fundraising effort puts Solana in direct competition with Polygon, Avalanche and other brilliant contract platforms all shooting at dozens of Korean orphan crypto developers. It is unknown at this time what he will do after leaving the post.
"It is not only because of the major crashes" in the two TerraUSD and LUNA tokens that the developers are facing Terra 2.0, "said Jaemin Park, growth manager at DeSpread, and doubts that their dapps could have a meaningful user base as the basic community has almost evolved. ”
While Solana's support will spread across all Web 3 projects, it will have a special focus on strengthening Korean blockchain game developers, according to Austin Federa, head of communications for the Solana Foundation. South Korea's global sports industry was worth more than $ 15 billion by 2021. The idea is to integrate at least some of the strengths of crypto games, too.
“They can build things out there. Great great games. It's really something you can see, "a former Solana Labs source told CoinDesk.
Solana also plans to find time to address the Korean engineering community with a hacker house set up in early August.