Master Ventures Launches $30M Polkadot Fund
This first-of-its-kind fund will invest in projects bidding for parachain slots on Polkadot and canary network Kusama.
Jun 2, 2021 at 10:34 a.m. UTCUpdated Aug 19, 2021 at 9:50 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/J4CGOYCXWVGKXGPPZQWRC4SQ4Q.jpg)
Asia-based private venture capital firm Master Ventures launched a $30 million fund for crypto projects aiming for a parachain slot on Polkadot.
- The Master Ventures Polkadot VC Fund is the first of its kind and will invest in the most promising projects on Polkadot and its canary network Kusama, according to an announcement Wednesday.
- Projects bidding will issue their native tokens, which will then be airdropped to DOT or KSM lenders.
- "We believe Polkadot will be one of the clear long-term winning blockchains and ecosystems due to its cross-chain functionality, ease of development and deployment as well as the strength of its development community," Master Ventures CEO Kyle Chasse said.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)