Tron Foundation, APENFT Launch $100M Fund for NFT Projects

The fund will offer artists support and guidance as well as advice on copyright protection and other legal aspects.

AccessTimeIconNov 3, 2021 at 4:37 p.m. UTC
Updated May 11, 2023 at 4:09 p.m. UTC

Justin Sun’s Tron Foundation has joined with APENFT, a non-fungible token (NFT) marketplace, to launch a $100 million fund to support NFT projects and digital artists.

  • The Art Dream fund aims to collect “meaningful stories and catalyze financial and cultural inclusion in the metaverse,” said APENFT, which operates on the Tron blockchain founded by Sun.
  • The metaverse is an environment generated by the convergence of virtual worlds, augmented reality and internet services.
  • Artists will receive support and guidance from the Tron Foundation and APENFT, including advice on copyright protection and other legal aspects.
  • The first theme for submissions is “Second Life.” The fund is calling for digital talents to apply by creating digital artworks exploring the Second Life in a digital parallel universe.
  • The two firms have cooperated before: In August, the Tron Foundation announced it had partnered with APENFT and WINKLink to launch the $300 million Tron Arcade fund, which will invest in so-called GameFi projects over the next three years.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.