Mon, July 22, 2024

Manta Foundation Launches $50M Eco Fund for Blockchain

FalconX and pre-seed round

Quick Look:

  • The Manta Foundation’s $50 million Eco Fund starts on June 15th, targeting DeFi, gaming, and NFTs.
  • Offers up to $50,000 for early-stage projects and major investments for high-growth ventures.
  • $35 million for Manta Network projects, $10 million for ecosystem grants, and $4 million for general grants.

The Manta Foundation has announced the launch of its new Eco Fund, a substantial initiative set to commence on June 15th. With a total funding pool of $50 million, this fund aims to support projects within the blockchain ecosystem. The company targets sectors such as Decentralised Finance (DeFi), gaming, and non-fungible tokens (NFTs).

The application process is now open, inviting innovators and developers to present their proposals. The fund offers grants of up to $50,000 for early-stage projects, providing crucial seed money to help developing ideas gain traction. Additionally, they geared the fund towards making significant investments in high-growth ventures that demonstrate strong potential.

Grants Up to $50K for Early-Stage Blockchain Projects

The Manta Foundation prides itself on its commitment to fostering community-centric projects. The foundation emphasises that it is moving toward nurturing the potential of projects. Therefore ensuring that even the smallest ideas have the opportunity to flourish. This dedication is prominent in their approach to supporting the Mantalorian community. Besides, it is a network of innovators and collaborators who want to pursue their projects within a supportive and dynamic environment. For projects to be considered, scalability is a key criterion. The foundation seeks projects that can demonstrate a robust business model designed for long-term success, ensuring the financial health and sustainability of the ecosystem.

$35M Allocated for Direct Investments in Manta Network Projects

The $50 million fund will maximise its impact over the next year. Out of this, $35 million is earmarked for direct investments in promising projects building on the Manta Network. This substantial allocation highlights the foundation’s commitment to fostering innovation directly within its ecosystem. Moreover, an additional $10 million belongs to an ecosystem grant programme, targeting areas such as Artificial Intelligence/Decentralised Physical Infrastructure Networks (AI/DePIN), zero-knowledge technologies, and memecoins, each receiving $2 million. This diversified approach ensures support across a wide range of innovative fields. A further $4 million remains aside for general grants supporting a broader array of projects that align with Manta’s goals.

$5M Dedicated to Events and Hackathons for Developer Engagement

To attract new developers and users, $5 million goes to events and hackathons. These initiatives will contribute to the developer community. Therefore fostering a collaborative and innovative atmosphere, creating space for new ideas and developments. The launch of the Manta Foundation Eco Fund represents a significant milestone in the blockchain ecosystem. The fund’s substantial financial backing and strategic focus on key areas of innovation will enable it to make a considerable impact. By nurturing early-stage projects and investing in high-growth ventures, the Manta Foundation will drive significant advancements in DeFi, gaming, NFTs, and beyond.

Currently, the fund opens its doors to applicants. Therefore, it invites a new wave of innovators to join the Mantalorian community and contribute to the evolving landscape of blockchain technology.

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