EOS Network Foundation to invest $20 million in EOS EVM and GameFi projects

The EOS Network Foundation (ENF) venture arm will invest $20 million in the development of applications and gaming products on the EOS network following the launch of the Ethereum Virtual Machine (EVM) in April.

BREAKING NEWS

EOS Network Ventures (ENV) is making a formal commitment to invest $20M directly into $EOS EVM and GameFi projects!

In addition to being BY FAR the fastest EVM, EOS EVM will also have the most funding available for builders.#EOS is officially open for business! pic.twitter.com/xAYIHoLB4O

— Yves La Rose (@BigBeardSamurai) March 20, 2023

“EOS Network Ventures is taking on an official commitment to directly invest $20 million in EOS EVM and GameFi projects,” said ENF CEO Yves La Rose.

According to him, the April 14 launch of Ethereum technology on EOS will “define the limits of what the EVM can do.” The rollout will provide speeds 25 times faster than Avalanche and will be three times faster than Solana and BNB Chain, La Rose asserted.

“With $20 million for EVM projects, we expect a mass influx of developers eager to take advantage of the funding opportunities,” wrote the head of ENF.

In 2018, the project conducted ICO for a record-breaking sum for the industry — more than $4 billion.

In February 2023, BitDAO community members proposed creating a fund to support ecosystem projects worth $200 million.

Earlier, the Venom Foundation blockchain platform developer, in partnership with Iceberg Capital, created an investment structure for these aims with a capital of $1 billion.