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Flow A Leading Tech-Based Company Raises $725 million Ecosystem Fund For Web3 Innovation

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Web3 the future of the internet is making new strides in its developmental processes, putting companies, individuals and even the big tech giants on their working toes is bracing up so as not to be caught unguarded.

Flow is a tech-based company that was originally developed by Dapper Labs. It has become of fast-growing decentralized, and developer-friendly community with an interest in creating new generation games, apps, and digital assets that are powered by blockchain.

Flow empowers developers to build thriving crypto- and crypto-enabled businesses. Applications on Flow are decentralized, allowing consumers to be in control of their data; create and own tradeable digital assets as well as enjoy the open markets which can be accessed from anywhere in the world.

Smart contracts on Flow can be amassed like Lego blocks to power apps serving billions of people, from Rugby fans to businesses with mission-critical prerequisites.

Flow announced the launch of a new fund called the Flow Ecosystem, designed to stimulate Web3 innovation. Realising $725 million, it is said to be the largest ever joint endeavour targeted at enlarging the blockchain ecosystem of any kind. The fund investors include Union Square Ventures, Greenfield One, Coinfund, Digital Currency Group, Web3 heavyweights like a16z, Coatue, and more.

Declaring the Flow Ecosystem Fund, Roham Gharegozlou, CEO of Dapper Labs in his words, “We are thrilled to see such a strong vote of confidence in the Flow ecosystem from some of the world’s leading investors in Web3 through their commitment to this Fund. With their active participation and support, the Ecosystem Fund has the opportunity to become a real game-changer for the 7500+ strong and fast-growing developer community in the Flow ecosystem.”

Flow confirms that the funds raised will be available to developers globally.
It will be disbursed first to new and existing dev projects and products to encourage the Flow blockchains; and also focused on those in the infrastructure, decentralized finance (Defi), gaming, and digital content space.

As we await more development and adoption of Web3 technology by many big-tech companies, the future of the internet is far more promising than we could ever imagine.

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