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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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.
