According to the announcement made today, an investment fund of $250 million has been created to support the work of the project focused on the metaverse. Cryptocurrency projects are trying to take steps in the metaverse to accelerate their growth. Thanks to the growing popularity of Metaverse, these altcoins get what they want and they manage to attract more investors to the project.
According to an announcement made today by the HBAR Foundation, a $250 million fund has been created to support research focused on the metaverse. Hedera is known for its blockchain-like distributed ledger technology (DLT), which has recently become compatible with the Ethereum Virtual Machine (EVM). With the help of a set of basic tokens, the network’s supporters want to attract popular applications from other networks to Hedera.
Alex Rassman, vice President of the HBAR Foundation, said in an interview:
“I see the whole metaverse world as applications that bring new users to Web 3. I see 2021 as the year of the NFC, and 2022 as the year of their corporate implementation.”
Rassman said that Heder is particularly interested in two areas: virtual fashion and gaming; these two sectors represent areas that the company currently wants to focus on. One of the 39 companies on Hedera’s “Management Board,” a group that has teamed up to oversee the network’s operations and strategy, is gaming giant Ubisoft, which joined the board after Jan.
With the spread of the news, HBAR is up 6% at the time of writing. HBAR Coin, which fell in price to $ 0.2 during the day, reached $ 0.2246 in the following hours. HBAR, the 34th largest cryptocurrency, is strengthening its position with a market capitalization of approximately $4.3 billion. Moreover, the fact that metaverse-centric plans will be supported may be a driving force in Hedera, as in many altcoins.
In the short term, if HBAR Coin can rise above $0.2289 and remain at this level, the target values of 0.249 and 0.268 can be reached. While bitcoin is so pessimistic, altcoins are taking serious losses, but whales who want to make money are also experiencing some altcoins with prices above 100%. If the volume shifts in this way, HBAR Coin investors can expect good returns in the coming hours. However, it is useful to be careful, as bitcoin’s sudden drops may continue.