Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Seeking Alpha 2022-04-07 21:16:38

HBAR Foundation to take on consumer brands in $250M Metaverse Fund

The HBAR Foundation has launched a $250M fund in an effort onboard popular consumer brands in Hedera Hashgraph's (HBAR-USD) metaverse, according a blog post Thursday. Capital from the fund will be directed towards gaming, sports, fashion and entertainment. The so-called THF Metaverse Fund "was launched to bring consumers into the Hedera ecosystem at scale and accelerate the development of applications in high-growth target areas," said Alex Russman, the fund's director. HBAR is also attempting to support game developers interested in building within the metaverse ecosystem and to introduce non-fungible tokens into the developer’s projects, according to the blog. The launch came after the company in March introduced a $155M Crypto Economy Fund, Blockworks reported. Meanwhile, hedera tokens (HBAR-USD +1.7%) are slightly rising to $0.22 intraday, while bitcoin (BTC-USD -0.8%) edges lower to $43.5K. Previously, (March 10) HBAR Foundation launched a $100M sustainable impact fund.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.