Pi Network has its sights on increasing its ecosystem with the most recent play involving the launch of a $100M VC fund. The new fund will fund tasks and startups advancing real-world utility and adoption of the Pi Network.
Pi Network Launches $100 Million Venture Capital Fund For Ecosystem Expansion
According to a press release, Pi Network has introduced a recent $100 million enterprise capital (VC) fund to assist revolutionary startups within the ecosystem. Per the assertion, the fund will characteristic belongings in each USD and Pi Coins, propping up tasks pursuing real-world Pi utility.
The new $100M fund shall be disbursed through the Pi Network Ventures, a newly minted entity created by the Pi Foundation. Per the announcement, the Pi Coins forming a portion of the funds stem from the Pi Foundation’s reserves.
Pi Network Ventures will put money into Pi-focused corporations within the early stage, together with Series B and subsequent rounds. Furthermore, the Pi fund will broaden assist past blockchain-native startups with an eye fixed on AI and e-commerce startups.
“This initiative gives creators the resources they need to build solutions that solve real problems while reinforcing the value of the Pi ecosystem,” mentioned Nicolas Kokkalis.
The announcement comes initially of Consensus 2025, with the undertaking anticipated to make a significant look on the occasion.
Is This The Widely Anticipated Ecosystem Announcement?
The Pi Core Team (PCT) has beforehand teased an ecosystem announcement for May 14, leaving group members on edge. While the $100M fund has triggered a wave of pleasure, there may be hypothesis that the launch is barely the tip of the iceberg.
Community members have their sights on a possible alternate itemizing for the Pi Network. While chatter of a possible Binance itemizing continues to percolate, an HTX listing for Pi Network has gathered vital steam.
HTX has dropped a string of hints pointing to a possible itemizing in its social media posts, stoking waves of optimism. Upbit is one other potential alternate itemizing, given the sheer variety of Pi Coin holders in South Korea.
Ahead of the ecosystem announcement, Pi Network price crossed $1, to leapfrog Litecoin (LTC) and Bitcoin Cash (BCH). A itemizing announcement throughout the Consensus 2025 occasion will sign mainstream adoption for along with the upside of a possible Pi Coin rally.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and rising applied sciences journalist with a knack for masking needle-moving tales within the area. Aliyu delivers breaking information tales, regulatory updates, and insightful evaluation with depth and precision. When he is not poring over charts or following leads, Aliyu enjoys enjoying the bass guitar, lifting weights and working marathons.
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