IoTeX Foundation Launches $100M Sustainable Ecosystem Fund
IoTeX Foundation is proud to announce the launch of the $100 Million Sustainable Ecosystem Fund. We are excited to provide this latest initiative towards connecting billions of smart devices to the IoTeX network and building the Web3 machine economy. The Sustainable Ecosystem Fund is available for builders accelerating the IoTeX ecosystem across all different categories of applications including DeFi, GameFi, NFTs, DAOs, and MachineFi.
IoTeX connects the real world to Web3 to ensure that everyday people will own and control their devices, as well as the data and value they generate. MachineFi is the gateway to achieving this mission. MachineFi opens a brand new design space for all Web3 builders to span the physical and digital worlds and take part in the future trillion-dollar machine economy.
Apply for the Sustainable Ecosystem Fund by completing this form or sending your pitch deck to iofund@iotex.io.
Long-Term Adoption
The Sustainable Ecosystem Fund is designed to be a self-sustaining model which, over the next decade, will support over 10,000 Web3 and MachineFi-driven projects on IoTeX. The Fund represents the IoTeX Foundation’s commitment to reinvesting in the IoTeX community. By using returns from current projects to continue funding new ones, the Fund generates long-term ecosystem growth and prosperity.
“MachineFi's goal is to take the profits generated by device-financialization from big-tech and distribute them to actual users, which is precisely what Web3 is all about: Altering the internet (and now devices) financial model from platform advertising to user ownership.” - Cointelegraph
The Fund will support developers with all the resources necessary to build successful applications that bring the MachineFi mission to life for years to come.
The IoTeX network has reached incredible heights with over 29 million transactions and a market cap of $1.2 billion by the end of 2021. We have also seen incredible engagement with the loyal IoTeX community, reaching 500,000 total wallets and 200,000 active users. The team is dedicated to pioneering both research and development, leading the way to creating sustainable IoT blockchain standards. IoTeX is at the forefront of Web3 and IoT adoption, and many more exciting developments are on the horizon as builders continue to join this design space.
MachineFi and Beyond
The Sustainable Ecosystem Fund will support thousands of projects across DeFi, NFT, GameFi, and MachineFi. The Fund is open for projects at any stage as long as the project promotes the growth and adoption of the IoTeX technology, ecosystem, and community. Fund recipients will receive technical guidance, financial support, marketing support, community bootstrap, and investment opportunities for BUIDLers- tech or non-tech.
There are over 10,000 IoTeX-powered devices active today. That number will see exponential growth as more applications and projects join the IoTeX ecosystem to power the new machine economy. These devices and applications will span sectors such as healthcare, gaming, automotive, and more. The integration of MachineFi into the greater Web3 ecosystem will introduce countless innovative use cases.
IoTeX is dedicated to opening this brand-new design space for builders to create the future of MachineFi from its very beginnings. By supporting thousands of ecosystem projects, this is a groundbreaking opportunity to pioneer the Web3 economy. Join the IoTeX Community and let’s build amazing things!
Apply for the Sustainable Ecosystem Fund by completing this form or sending your pitch deck to iofund@iotex.io.