ROK Capital and the Solana Foundation have formed the Solana Eco Fund,
aiming to spark a fire of Solana blockchain-based growth in Korea.
Solana-related news has surfed a number of headlines
in recent months. The blockchain now appears headed for major strides
in Korea, with significant funding for its surrounding ecosystem.
"As
one of the largest crypto markets globally, Korea has an
extraordinarily high adoption rate of cryptocurrencies," a
representative from Korean firm ROK Capital told Cointelegraph. "By
expanding the Solana ecosystem in Korea, we hope to grow the awareness
and adoption of decentralized applications on the Solana ecosystem as
well as encourage and incubate local teams to build on Solana."
A
new $20 million Solana Eco Fund — constructed by ROK Capital and the
Solana Foundation — is now available to help out the world of solutions
based around the Solana blockchain, said a Thursday public statement
provided to Cointelegraph. Several projects have already received
funding, including Synthetify and Symmetry.
“In addition to
injecting capital, this new fund will provide tailored services for
projects to successfully accelerate in Korea,” Brain Kang, a general
partner at ROK Capital, said.
“By partnering with Solana, the firm
hopes to bootstrap a range of Solana-focused infrastructure projects,
including those related to Web3, Defi, and NFTs,” the statement said of
ROK Capital. “The focus will be on accelerating Solana’s expansion into
the Korean market,” the statement added, subsequently noting additional
involvement from DeSpread and FactBlock.
Earlier on Thursday, news came of another Solana ecosystem-spurring effort,
the Solverse Accelerator. The initiative, which is supported by at
least 21 companies, will provide mentorship and other resources in
support of projects building on the Solana network. Wednesday also saw
the opening of a Solana-based market for nonfungible tokens, or NFTs, called Metaplex.
Solana’s native coin, SOL, sits
in the 16th position on CoinMarketCap’s rankings list at a price of
$39.01 per coin at the time of publication, with a market capitalization
of approximately $10.6 billion.
source link : https://cointelegraph.com/news/korean-solana-expansion-gets-20-million-boost
