IoTeX Launches $100M Fund for Web3 Economy

IoTeX Launches $100M Fund for Web3 Economy
  • IoTeX has launched its $100 million Sustainable Ecosystem Fund.
  • The said fund will support developers across DeFi, NFTs, DAOs, MachineFi, and more.
  • IoTeX price is currently at $0.093, according to CoinGecko.

IoTeX Foundation has announced that it will be allocating $100 million for its Sustainable Ecosystem Fund. According to an announcement, this fund will support developers across various blockchain sub-sectors including DeFi, NFTs, DAOs, and more.

Of course, the fund is only available for projects within the IoTeX ecosystem. The blockchain network aims to bolster its Web 3.0 machine economy by supporting promising projects and onboarding billions of smart devices.

IoTeX also mentioned MachineFi, billing it as a gateway to a “brand new design space”. An official announcement read:

“MachineFi opens a brand new design space for all Web3 builders to span the physical and digital worlds and take part in the future trillion-dollar machine economy.”

Interested applicants can apply for the fund by filling out this form.

In other news, the crypto market appears to have emerged from a 3-month winter. The prices of most cryptocurrencies are starting to come back to life, particularly Bitcoin (ADA) and Cardano (ADA). 

Meanwhile, IoTeX appears in a gradual increase that may take quite a while before it sizzles. At the time of writing, IoTeX price is at $0.093, according to CoinGecko. IOTX is currently down by 1.1% in the last 24 hours, although it is still up by 23.4% in the last 7 days.

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