Solana (SOL) has created a $100Million fund to support cryptocurrency projects in the country. The main sectors to benefit from the fund are DeFi, gaming, and Non-fungible tokens (NFTs). Also, the fund is to support some projects built on the Terra network after the terrible crash.
The Terra Network crash caused a lot of pain in the crypto community. One of its results was that the South Korean government suddenly set up measures to examine crypto exchanges.
According to a report, up to 280,000 crypto investors in South Korea lost fortunes in the UST & LUNA plunge. But, many retail investors are trying to hold down the fort even though it’s difficult.
Related Reading | Bitcoin Miner Revenues Stay Low As Price Decline Continues
The two players to seed grants and investments across Web 3 verticals are Solana Foundation and Solana Ventures. They will focus mostly on South Korean game development projects. This funding attempt will place Solana side by side with competitors such as Avalanche, smart contract pla ..
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