The HBAR Foundation, which supports the development of the Hedera ecosystem, announced that it has launched a $250 million Metaverse Fund for major brands.
The HBAR Foundation announced on Thursday that it has launched a new $250 million fund aimed at attracting both consumer brands and users to Hedera Hashgraph’s metaverse ecosystem.
$250 Million Metaverse Fund from the HBAR Foundation
HBAR, which is responsible for the development of Hedera’s network, stated that the Metaverse Fund targets both B2C and B2B2C applications. and said he wanted to develop Web3.
With this fund, the foundation focuses on building an advanced digital world as well as advancing the ecosystem with supporting and complementary projects. It also strives to support game developers within the ecosystem and incorporate NFTs into their projects.
The foundation said capital from the $250 million Metaverse Fund will be directed towards gaming, sports, fashion and entertainment.
HBAR also stated that the fund will encourage luxury brands to engage with Hedera NFTs in both the physical and digital fashion worlds.
After the $155 million Crypto Economy Fund last month, HBAR expressed hope that this latest fund will attract more users and brands to the network.
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