Bitcoin News and Finance
HBAR Foundation Launches $250 Million Metaverse Fund to Entice Developers to Build on Hedera Skip to main content

HBAR Foundation Launches $250 Million Metaverse Fund to Entice Developers to Build on Hedera

HBAR foundation

The HBAR foundation, a nonprofit organization designed to accelerate the development of the Hedera Hashgraph ecosystem, has announced the launch of a new Metaverse fund. The fund, which launches with $250 million, will serve to entice builders and programmers to bring their metaverse products to the Hedera network and make use of its decentralized ledger technologies.

HBAR Foundation Wants the Metaverse to Happen on Hedera

The battle for the metaverse is intensifying, and many organizations are offering incentives for these experiences to be built using their own infrastructures. The HBAR Foundation, an organization devoted to the growth of the Hedera Hashgraph ecosystem and the apps on it, has announced the launch of the THF Metaverse Fund that will offer $250 million in incentives to programmers that want to bring their metaverse apps to life by using Hedera Hashgraph’s tools.

On why the HBAR Foundation believes that Hedera is an ideal platform for metaverse inspired apps, it stated:

DLT [Decentralized Ledger Technology] is the core component of such infrastructure and it is the Hedera network that is best architected to meet the DLT demands of enterprise platforms and their complex economies.

Furthermore, the foundation is confident that it will be able to help newcomers in the area to tackle the hardships of launching these products with a “wealth of experience and financial backing … accelerating the development of applications in high-growth target areas.”

Specific Developments

The foundation offered some examples — referencing projects such as Tunefm and Siki — in which they are working with different brands in the metaverse and NFT space that want to develop their products on this blockchain. In the gaming space, it aims to include more of these projects by using middleware services that allow for rapid deployment of projects in the environment.

Regarding consumer brands and collectibles, it announced:

[The foundation is] working with industry partners who brands trust to hand-hold them into the Web3 space.

The enterprise metaverse sector is also being given special importance by the organization, which believes that middleware directed to support this kind of product is “key to powering future virtual economies.” In this sense, the company expects these products to also be developed on Hedera due to its favorable traits.

Hedera’s metaverse fund joins other funds that also center their interest on the development of the metaverse, which, according to a recent survey, will be a popular place to buy, store, and sell cryptocurrencies.

What do you think about Hedera’s $250 million metaverse fund? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory