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FTX Announces $1B Future Fund to Support Upcoming Projects

FTX Announces $1B Future Fund to Support Upcoming Projects

The US-based crypto exchange announced its new fund to give out "grants and investments to ambitious projects in order to improve humanity’s prospects."

FTX has been the second most ambitious crypto exchange, overshadowed by Binance, with multiple partnership deals, efforts to improve the blockchain industry and bring people outside crypto into the digital asset market.

According to FTX’s Future Fund website, the crypto exchange will be giving a "philanthropic fund" for projects that are "massively scalable", meaning that they should be transformative and constantly improving, so the company could confidently invest every year.

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What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED)

What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED) What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED)

The FTX Fund issued their "areas of interest" that include Artificial Intelligence, Biorisk and Recovery from Catastrophe, Epistemic Institutions, Values and Reflective Processes, Economic Growth, Great Power Relations, Space Governance, Empowering Exceptional People, Effective Altruism, and Research That Can Help Us Improve.

In fact, projects are already able to apply for funding if they are looking to launch one of FTX’s outlined projects or seek to create a project of their own that is linked to proposed areas of interest. The first funding round ends on March 21st.

Likewise, FTX offers the community to participate in the Project Ideas Competition so that people can pitch their ideas, with winners receiving monetary rewards. The competition will be open for applications until March 7th.

At the end of January, FTX was valued at $8 billion in total after securing a $400M fund in an attempt to expand globally by building the best team possible. 

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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