\n
\n
\n
\n
\n
<\/p>\n
\n
\n
\n
\n
\n<\/p>\n
Master Ventures, an Asian private-venture capital firm has unveiled a $30 million fund geared toward crypto projects eyeing for a parachain slot on Polkadot and Kusama.<\/b><\/p>\n According to a press release issued today, $1 billion-valued blockchain incubator & private venture capital company Master Ventures has launched a $30 million venture capital fund dubbed the Master Ventures Polkadot VC Fund.<\/p>\n The first of its kind fund aims to support and finance the Parachain bids of tier-1 blockchain and cryptocurrency projects aiming to secure a slot on the Polkadot Relay Chain. In addition, the fund will also bootstrap early-stage investments in projects in the budding Polkadot and Kusama ecosystems.<\/p>\n For the uninitiated, both Polkadot and Kusama are poised to launch more than 50 parachains over the next 18 months. These Parachain slots, as such, will be auctioned to the highest-bidding projects who must also make the required payments for their respective bids in DOT or KSM, the native tokens of Polkadot and Kusama networks, respectively.<\/p>\n In a bid to incentivize community support towards a particular Parachain bid, projects will issue their native tokens in exchange for a DOT crowdloan. Notably, this process is an alternative conceptualized by Polkadot to an ICO\/IDO with the native tokens being airdropped to the lenders.<\/p>\n Commenting on the development, Kyle Chasse, Founder and CEO, Master Ventures, noted:<\/p>\n “As a supporter of Blockchain & Cryptocurrency since 2012, we’ve evaluated over 1000 projects and invested in nearly 100 of these, many of which have committed to develop on Polkadot.\u00a0 In our current portfolio of incubated projects led by the PAID Network, we’ve also committed significant research & development resources to build on Polkadot.\u201d<\/strong><\/p>\n<\/blockquote>\n Adding:<\/p>\n<\/span>Bullish on Parachain Projects<\/strong><\/span><\/h2>\n
\n
\n