Boost for Web3, DeFi, NFT’s | Solana launches $100 million Fund.

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A $100 million investment and grant fund for South Korean web3 firms has been launched by the Solana Ventures and Solana Foundation, according to Solana Labs’ general manager of games, Johnny Lee. GameFi, NFTs, and DeFi are expected to be the fund’s key emphasis in South Korea.

In addition to the money accessible via the venture arm, the fund is supported by the Solana community treasury, according to Austin Federa, Solana Labs’ director of communications.

Web3 Gaming Future

In the second half of 2022, Lee predicts that the Solana blockchain will witness the debut of more “high-quality and interesting games.” In his opinion, play-to-earn games have the ability to change the widely held belief that they don’t give an enjoyable experience.

“We are hopeful that the future will bring a different outcome.”

For Lee, the future of web3 games is the same as the future of mobile-device freemium games. This got a lot of attention from both gamers and developers on Web3, he said.

The video game business in Korea, according to Lee, is moving in large part to web3 platforms. A portion of [our contributions] will be venture-sized cheques since there is such a broad variety of project sizes and team sizes.

Solana claims that gaming and non-financial activities (NFTs) make up the bulk of South Korean activity. It’s a great match for web3 since gaming and NFTs rely significantly on the internet, says Lee.

Solana Blockchain Halted

Just a Few days Ago, Solana blockchain was halted and community has been criticing solana development. In response, Solana Devs has Disable some features so that solana blockchain doesn’t get halted Again.