Bitcoin
$63,049.65-0.45%
Ethereum
$3,074.48-0.61%
Binance Coin
$540.08-2.69%
Solana
$134.60-1.77%
XRP
$0.49511723+0.13%
Dogecoin
$0.15477505-2.79%
Toncoin
$6.12-7.95%
Cardano
$0.45431385-0.23%
Shiba Inu
$0.00002250+3.16%
Avalanche
$34.54-1.73%
Wrapped Bitcoin
$63,265.56-0.28%
Tron
$0.11161465+0.44%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
03
DAYS
22
HR
54
MIN
30
SEC
Markets

Master Ventures Launches $30M Polkadot Fund

This first-of-its-kind fund will invest in projects bidding for parachain slots on Polkadot and canary network Kusama.

By Jamie Crawley
AccessTimeIconJun 2, 2021 at 10:34 a.m. UTC
Updated Sep 14, 2021 at 1:04 p.m. UTC
polkadot-kusama

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Asia-based private venture capital firm Master Ventures launched a $30 million fund for crypto projects aiming for a parachain slot on Polkadot.

  • The Master Ventures Polkadot VC Fund is the first of its kind and will invest in the most promising projects on Polkadot and its canary network Kusama, according to an announcement Wednesday.
  • Polkadot and Kusama plan to auction off over 50 slots for second-layer chains. Bidders must hold either DOT or KSM depending on which protocol they intend to utilize.
  • Projects bidding will issue their native tokens, which will then be airdropped to DOT or KSM lenders.
  • "We believe Polkadot will be one of the clear long-term winning blockchains and ecosystems due to its cross-chain functionality, ease of development and deployment as well as the strength of its development community," Master Ventures CEO Kyle Chasse said.

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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.