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Avalanche Foundation launches $100 million fund for entertainment projects

26.03.2022 ForkLog

The nonprofit organization Avalanche Foundation and the social media platform Op3n have launched the Culture Catalyst initiative worth $100 million, ForkLog said in a press release from Op3n.

The initiative aims to support the development of artistic, entertainment, and cultural projects on the Avalanche platform.

The inaugural Culture Catalyst project will be an ‘intergalactic children’s metaverse’ by Canadian musician and singer Claire Elise Boucher, known by the stage name Grimes. In 2021 she sold an NFT collection for $6 million.

The media platform Op3n, in collaboration with American singer Ava Max, will release her new music video.

In March 2022, the Avalanche Foundation launched the Multiverse incentive program worth $290 million to develop the ecosystem’s subnet functionality.

Earlier, Yuga Labs, the company behind the NFT collection Bored Ape Yacht Club, raised $450 million to create its own metaverse.

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