Sei Foundation Launches $50 Million Japan Web3 Ecosystem Fund

IconCryptoNewsTerminal Staff17 Jul, 2024

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Sei Foundation Launches $50 Million Japan Web3 Ecosystem Fund

The Sei Foundation has announced the launch of a $50 million Japan Web3 Ecosystem Fund, which will be allocating grants to early-stage and mid-stage projects that are building innovative and sustainable Web3 applications in Japan. The fund will focus on supporting Web3 gaming and social projects. The foundation believes that Japan has the potential to become a major hub for Web3 development, and this fund will help to accelerate the growth of the ecosystem in the country. Japan has a large and sophisticated gaming industry, and a strong tech sector hence, the foundation believes that there is a lot of potential for Web3 to be adopted in the country. The fund will provide grants to projects that are building games, social networks, and other Web3 applications that are designed to appeal to the Japanese market. The fund is part of the Sei Foundation's broader commitment to supporting the growth of the Web3 ecosystem. The foundation has already launched a number of other initiatives, including a $100 million accelerator program for Web3 startups and a $50 million fund to support Web3 research.

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