Solana invests $100 million in South Korean Web3 startups

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.

Adam Spencer

Written by Adam Spencer

Author of the section "NFT".

A digital artist who releases his artwork under a pseudonym that is not disclosed on this site. Since childhood is fond of drawing and sculpture. A graduate of the Academy of Fine Arts. Passionate about both the creation of art and its history.

Has not passed him by and modern technology. He makes his works on the computer using a tablet. Master of Photoshop, Illustrator, 3ds Max and other less common specialized programs for designers and artists.

Got interested in NFT back in 2020, even before its popularity peaked. Believes NFT is a great technology that allows little-known artists to show their work to the world.

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