- ConsenSys Ventures alum and blockchain pioneer, Chris Odom, has announced the launch of NEAR Protocol Capital, the first crypto venture fund dedicated to investing in blockchain-powered companies that are building on the NEAR protocol. The fund will invest in projects that are building on the protocol’s decentralized identity and data market, as well as those leveraging the protocol’s capabilities for decentralized governance and dispute resolution.
- The fund will initially invest in U.S. and European companies, and is in talks with other regions to expand into them. Odom, who was previously a managing partner at ConsenSys Capital and is known for his work in the Ethereum community, said that he expects the first investments to be made in the second half of 2022.
- The NEAR protocol is a way for different blockchains to communicate with each other and exchange data, will launch a crypto VC fund focused on investing in the NEAR protocol, the platform upon which her decentralized video platform, Aeternity, is built. The NEAR VC Fund will make early-stage investments in privacy-focused, scalable, and interoperable protocols, such as the NEAR protocol, that are building the foundational infrastructure of the decentralized world.
- The NEAR VC Fund will invest up to $25 million in companies that have demonstrated the potential to become significant players in their respective space. The first investee will be Aeternity, which will use the funds to launch the first version of the NEAR Protocol, which will be released in 2023.
What Is The Purpose Behind The Launch Of Crypto Venture Capital Fund In NEAR Protocol?
- The purpose of the NEAR Protocol Capital is to build a diversified portfolio of undervalued companies that are building on the NEAR protocol, said Odom. He believes that the decentralized economy is at an inflection point, with the rise of decentralized identity and data markets, as well as the potential for decentralized governance and dispute resolution, to create a broad range of applications.
- The fund will seek to identify companies at the early stages of development that will have the most room to grow, he said. The fund will invest in a mix of digital assets, security tokens, and utility tokens, Odom added.
Summary And CTA
- Users who have invested in the NEAR protocol will have the opportunity to invest in the new fund, which Odom says will offer a higher rate of return than other traditional investments in the space. The launch will also come with a call to action for users to invest in the protocol, as well as other ways that they can help the ecosystem expand.
- Odom says that he is excited to further the vision of the NEAR protocol and its community, adding that the launch of the VC fund is the first step in doing that. “The launch of the NEAR Protocol Capital is the first step in building a world-class venture fund and ecosystem around the NEAR protocol,” said Odom. “
Tags: cryptoCryptocurrency
