The HBAR Foundation launches a $250M fund to attract consumer brands and their users to the Hedera metaverse ecosystem, according to a report by Blockworks on Thursday.

  • HBAR stated its Metaverse Fund targets both business-to-consumer and business-to-business-to-consumer applications to incorporate users at scale into Web3 development.
  • The fund aims at building out an advanced digital world and furthering an ecosystem of supporting and complementing projects. It will also support game developers building within the ecosystem.
  • Funding will be channeled to four main areas, including sports, gaming, fashion, and entertainment.
  • Geert Roete, the co-founder of customer relationship management platform Sayl, stated they decided to build on Hedera for its carbon negative and enterprise-grade blockchain, designed for security and regulatory compliance.

After launching its $155M Crypto Economic Fund last month, HBAR stated it is optimistic its latest fund will attract more users and brands to the network. HBARUSD up +4.10%