The Graph, a decentralised data-indexing protocol, launched a $205 million fund to provide grants to developers dapps in the project’s ecosystem.
.@graphprotocol sits at the center of the Web3 stack. Excited to work with the community to back the most promising tools & projects in the network. https://t.co/7MHkOlgdvS
— Digital Currency Group (@DCGco) February 17, 2022
Financing was provided by Digital Currency Group, Multicoin Capital, Reciprocal Ventures, HashKey, Gumi Cryptos Capital and NGC Ventures.
The fund is aimed at developers building decentralized applications using The Graph technology. They can span different sectors—from DeFi and NFTs to metaverses and cross-chain infrastructure.
Partner Craig Burrel of Reciprocal Ventures noted that many applications and protocols “work with centralized platforms and solution providers”.
“In the near term, it will stay that way until more decentralised alternatives appear. To bring this future closer, we have joined forces with some of the biggest players in the crypto industry to provide strategic capital and resources to developers aligned with The Graph’s mission to implement Web 3.0,” emphasised he.
Earlier, Graph Foundation announced the integration of the service with the Aurora protocol.
In early 2022 the startup attracted $50 million from Tiger Global, FinTech Collective, Fenbushi Capital, Reciprocal Ventures and Blockwall Digital Assets Fund.
Earlier, in January, venture firm Blossom Capital launched a $432 million fund. A third of the raised funds will go to finance cryptocurrency- and blockchain-related startups.
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