In Brief:
- Chiron has launched a $50 million fund dedicated to Terra blockchain projects.
- The Fund will be used to support decentralized banking apps, NFT platforms, etc.
Chiron, a Hong Kong-based venture capital firm, announced Wednesday that it has launched a $50 million fund dedicated to Terra blockchain projects.
According to the company’s statement, the fund will be used to support decentralized banking apps, metaverse-linked non-fungible token (NFT) platforms, and more.
Despite an overall market downfall, investor confidence in the Terra ecosystem has never been higher, according to a representative of the fund, as the blockchain’s native LUNA coin continues to reach all-time highs.
Terra’s fast growing ecosystem attracted a $150 million decentralized finance (DeFi) fund in July, and this is the latest funding infusion.
Chiron Partners’ COO and Founding Partner, Jake Cormack stated that, “the Terra ($LUNA) ecosystem’s growth potential, particularly after the latest Columbus-5 upgrade and announcements on Risk Harbour insurance wrapped protection, is limitless.”
He further added by saying, “we want to work closely with visionaries behind up-and-coming projects built on Terra – supporting them with not just capital, but also our strategic, extensive resources and expertise.”
Similarly other South Korean firms like KRAFTON are entering into the crypto investments, commonly known as the creator of famous Player Unknown’s Battlegrounds (PUBG) has made a $4.2 million indirect investment in Zepeto, Naver Z’s metaverse platform.
