Deepti Sri · · 1 min readMark Cuban-backed blockchain firm launches $150m Web3 initiative
Injective, a blockchain for building financial applications, has announced a new US$150 million initiative backed by a consortium of investors including Pantera Capital, Kraken Ventures, Jump Crypto, and KuCoin Ventures.
Delphi Labs, Flow Traders, Gate Labs, and IDG Capital also joined the initiative to back “promising” projects. It aims to support developments in the interoperability, decentralized finance, and point-of-sale infrastructure sectors, among others.
Image credit: Timmy Loen
Investors in the initiative will provide token and equity investments as well as mentorship in areas such as technical development, cryptographic research, and community growth. It aims to focus on founders in the Injective ecosystem as well as within the Cosmos network.
Injective’s platform helps developers build protocols focused on exchanges, derivatives, lending, and other similar activities. The company was incubated at Binance and backed by Mark Cuban.
Some projects that have recently launched on Injective’s chain include White Whale, Frontrunner, and Kado.
See also: A look at Zilliqa co-founder’s ambitious blockchain project, AltLayer
Editing by Miguel Cordon and Lorenzo Kyle Subido
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