Privacy-focused blockchain network Oasis Foundation has unveiled a $160m ecosystem fund dedicated to supporting the development of projects being built on the Oasis Ecosystem.
The $160m in funds will be used to “power the next wave of Oasis applications” in established spaces such as decentralised finance (DeFi), NFTs, the ‘Metaverse’ and an array of data-focused spaces like data tokenisation, governance and DAOs.
The investment will be allocated among the ecosystem in a bid to support both new start-ups and existing projects currently building on Oasis.
1/Announcing the 📣 $160M OASIS ECOSYSTEM FUND 📣 dedicated to supporting & scaling projects built on Oasis!
$160 Million USD to build the next frontier of DeFi, NFT, Metaverse, Data Tokenization, Data DAO, Data Governance & Privacy Apps on Oasis!🚀https://t.co/xRLurcEKAg
— Oasis Network (@OasisProtocol) November 17, 2021
The $160 million investment featured an array of key partners and prominent crypto investment funds including AME Cloud Ventures, Dragonfly Capital Partners and Pantera Capital.
Jernej Kos, Director of the Oasis Foundation, spoke on how the funds will be used to support future development on the blockchain.
“We are thrilled to work with long-time supporters of Oasis to build, cultivate and grow the ecosystem,” he said.
“We are now fully developer ready, and we invite all developers to consider Oasis as we are ready to support them with funding, technical expertise and mentoring, and a strong network of backers.”
The blockchain already has an established ‘partner ecosystem’, which includes collaborations with companies like Genetica, Nebula, Cryptosafe Alliance by Binance and BMW.
Oasis also offers the largest Layer-1 Blockchain ‘University Program’, with more than 300 teams having already applied for the ‘Oasis Grants Program‘ in the past year.
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