Solana Ventures, the investment arm of Solana Labs, announced Tuesday that It has set up a new $150 million fund to support blockchain gaming startups.
The fund was launched in collaboration with Forte, a blockchain gaming startup that recently raised $725 million in new funding, and Griffin Gaming Partners, a VC firm focused on the gaming sector and leading investors in cryptocurrency. Forte
The fund’s funding will be in dollars and not Solana tokens (SOL), according to a Solana Labs spokesperson, with plans to invest in Solana’s blockchain-based gaming startups. Network throughput support above 65,000 transactions per second. And a very low average cost per transaction of $0.000025 makes Solana an ideal blockchain for gaming applications.
The new fund is expected to go into full swing over the next 18 months, the spokesperson said, and it will become the second blockchain gaming-focused fund at Solana Ventures after last month. The company has launched a $100 million fund with Lightspeed Venture Partners and FTX.
Solana Ventures launches new $150 million fund to support blockchain games appeared first on Bitcoin Addict.