The HBAR Foundation is launching a $250 million metaverse fund. The proceeds from the fund will be used in gaming, sports, fashion and entertainment. The foundation stated that the profits from HBAR's metaverse fund will be directed to the fields of gaming, sports, fashion and entertainment.
In a statement today, the HBAR Foundation talked about the fund they aim to attract both consumer brands and users to Hedera Hashgraph's metaverse ecosystem. It was stated that this new fund will encourage luxury brands to engage with Hedera NFTs in both the physical and digital worlds of fashion.
Accordingly, the fund focuses on building an advanced digital world, as well as advancing an ecosystem that supports and complements projects. It also tries to support game developers who are interested in building within the ecosystem and offer NFT to the developer's projects.
Geert Roete, co-founder of customer relationship management platform Sayl, said;
“We have chosen to build our funding on Hedera for carbon negative and enterprise-grade blockchain tailored for security and compliance.”
Some argue that the network is vulnerable to malicious actors, while others argue that it is very centralized. However, Hedera and HBAR disagree, stating that both the consensus mechanism and the governance model are highly decentralized.
The foundation states that as more processes are added to the network, the design choice increases processing speed and efficiency. On the other hand, approximately 2.6 million transactions are processed daily on the network and transaction processing times are roughly 5 seconds.
Hedera (HBAR) price hovered around $0.220 at the time of writing, while Hedera's (HBAR) 24-hour trading volume was $104,974,931, according to CoinGecko data. Hedera (HBAR) price has increased by 1.8% in the last 24 hours. Hedera hit an all-time high price of $0.569229 on Sep 15, 2021 (7 months).