Solana Labs: $250 million social media and gaming fund has only utilized a portion of its funds in the past year

2022-11-28 07:56:23

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According to ChainCatcher, in an interview at Lisbon's Breakpoint 2022, Solana Labs CEO Anatoly Yakovenko stated that over the past year, Solana Labs has only deployed a portion of the $250 million crypto social and gaming fund, focusing on small seed round investments, with the amount deployed in the social media fund so far being "far less than half." Current social media products include Dispatch, Squads, Dialect, and Wordcell, with 37 games either launched or preparing to launch.

It is reported that Solana Labs previously announced the establishment of two flagship funds at Breakpoint 2021: one is a $100 million fund focused on decentralized social media, and the other is a $150 million fund aimed at encouraging blockchain games. (The Block)

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