Investment

The expansion of Korean Solana receives support of $ 20 million

News related to Solana yes went through a series of headings in the last months. The blockchain now seems to be making great strides in Korea with significant funding for the surrounding ecosystem.

“As one of the largest global cryptocurrency markets, Korea has an extremely high cryptocurrency acceptance rate,” a representative of the Korean company ROK Capital told Cointelegraph. “By expanding the Solana ecosystem in Korea, we hope to increase awareness and acceptance of decentralized applications in the Solana ecosystem and to encourage and incubate local teams to build on Solana.”

A new $ 20 million Solana Eco Fund is now available – created by ROK Capital and the Solana Foundation to help the world of a Solana blockchain solution, a public statement issued by Cointelegraph on Thursday said. Several projects have already received funding, including Synthetify and Symmetry.

“In addition to investing capital, this new fund will provide tailor-made services for projects that are expected to accelerate successfully in Korea,” said Brain Kang, general partner of ROK Capital.

“Through its partnership with Solana, the company hopes to implement a number of infrastructure projects focused on Solana, including projects related to Web3, Defi and NFT,” said a statement from ROK Capital. “Emphasis will be placed on accelerating Solana’s expansion into the Korean market,” the statement added, noting further involvement in DeSpread and FactBlock.

Earlier this morning, they reported on another effort to accelerate the Solana ecosystem, designated as Solverse Accelerator. The initiative, supported by at least 21 companies, will provide mentoring and other resources to support follow-up projects to the Solana network. There was also an opening on Wednesday and The non-functional token market based on Solana, or NFT, called Metaplex.

Solan’s birth coin, SOL, sitting ranked 16th in the CoinMarketCap ranking at $ 39.01 per coin at the time of publication with a market cap of approximately $ 10.6 billion.



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