Share this article
Master Ventures Launches $30M Polkadot Fund
This first-of-its-kind fund will invest in projects bidding for parachain slots on Polkadot and canary network Kusama.
Updated Sep 14, 2021, 1:04 p.m. Published Jun 2, 2021, 10:34 a.m.
Make us preferred on Google
Asia-based private venture capital firm Master Ventures launched a $30 million fund for crypto projects aiming for a parachain slot on Polkadot.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The Master Ventures Polkadot VC Fund is the first of its kind and will invest in the most promising projects on Polkadot and its canary network Kusama, according to an announcement Wednesday.
- Polkadot and Kusama plan to auction off over 50 slots for second-layer chains. Bidders must hold either DOT or KSM depending on which protocol they intend to utilize.
- Projects bidding will issue their native tokens, which will then be airdropped to DOT or KSM lenders.
- "We believe Polkadot will be one of the clear long-term winning blockchains and ecosystems due to its cross-chain functionality, ease of development and deployment as well as the strength of its development community," Master Ventures CEO Kyle Chasse said.
Read more: Banking App Current Picks Polkadot for Its DeFi Debut
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
More than half of bitcoin’s invested supply has a cost basis above $88,000
Most invested bitcoin supply sits above current prices, increasing price vulnerability if key support levels fail.
What to know:
- Around 63% of invested bitcoin wealth has a cost basis above $88,000.
- An onchain measure shows heavy concentration of supply between $85,000 and $90,000, combined with thin support below $80,000.
Top Stories
