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Flow Announces $725M Fund to Support Its Blockchain Ecosystem

Flow Announces $725M Fund to Support Its Blockchain Ecosystem

On May 10, the decentralized blockchain network Flow received a $725 million fund to advance its expansion in the near future.

According to the company, this fund was one of the biggest ever made for any available blockchain in the market. It will be used to provide backup for more than 7 thousand Flow developers in creating products on the NFT such as DeFi, infrastructure, gaming, and content creator.

Today, the CEO of Flow Roham Gharegozlou stated in a tweet that the company's funds will be held as an investment instead of the grants provided to the developers.

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This significant amount of money will act as an investment in NFT's expansion that will hopefully provide Flow's ecosystem an increase.

Additionally, on May 10, LG Doucet put out a tweet where he introduced an agenda of products that should be sponsored with the fund of $725M. The host of one of the NFT-related podcasts listed programs such as the mobile app for Emerald, wallet integration on Shopify, video education on Flow, athlete, non-cartoon, animal art, and a whitelist app.

According to statistics, even though Flow’s market cap is estimated at $1.4 billion and the blockchain managed to earn $50 million in NFT sales per month, it still remains behind in the list when compared to the base networks. For instance, amongst the largest blockchains such as Ethereum and Solana, Flow is ranked third by leading the NFT sales. With such a fund, Flow hopes to change this lag for the better.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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