Solana has announced a new $100 million investment fund. These funds will be used to support Web3 startups in South Korea.
According to the official press release, the fund will focus on companies in the GameFi, NFT, DeFi and P2E fields. Solana Ventures and the Solana Foundation provided the money. Community members also participated in the project.
“Much of the gaming industry in South Korea is ‘transitioning to Web 3.’ We want to be flexible. There are different criteria for the size of teams and companies, so some of our checks will be enterprise-sized,” said Solana Labs representative Johnny Lee.
Solana sees potential in this area in South Korea. That explains the company’s interest in local gaming startups. Despite the decline in popularity of some key P2E projects, such as Axie Infinity, the field as a whole remains extremely promising.
GIPHY App Key not set. Please check settings