$100M Sustainable Ecosystem Fund Launched by IoTeX Foundation
- By the end of 2021, the IoTeX network had over 29 million transactions.
- The IoTeX community has amassed more than 500,000 wallets and 200,000 active users.
It has been announced that the IoTeX foundation has launched the $100 million Sustainable Ecosystem Fund. The IoTeX network and the Web3 machine economy will be built by connecting billions of smart devices to it. Building the IoTeX ecosystem is made easier with the Sustainable Ecosystem Fund, which is open to developers, including DeFi, GameFi, NFTs, DAOs, and MachineFi.
Normal citizens will own and manage their gadgets and the data and value they create using IoTeX, which links the real world to Web3. This goal can only be achieved with the help of MachineFi. As a Web3 maker, one can now participate in the future trillion-dollar machine economy thanks to MachineFi’s new design space.
Web3 and MachineFi Driven Applications
Over the next decade, the Sustainable Ecosystem Fund will fund over 10,000 Web3 and MachineFi-driven applications on IoTeX as a self-sustaining model. In addition, to show its dedication to the IoTeX community, the IoTeX Foundation established the IoTeX Community Fund. The Fund promotes the long-term development and profitability of the ecosystem by leveraging the profits from existing initiatives to continue supporting new ones.
By the end of 2021, the IoTeX network had over 29 million transactions and a market capitalization of $1.2 billion. The IoTeX community has amassed more than 500,000 wallets and 200,000 active users. The team’s mission is to pioneer IoT blockchain research and development by setting the standard. There will be many more fascinating advances in the IoTeX design area as more builders join the Web3 and IoT adoption bandwagon.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
