September 29, 2022

Avalanche Foundation Launches $100M Fund for Entertainment Projects


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The nonprofit Avalanche Foundation and social media platform Op3n have launched a $100 million Culture Catalyst initiative, Op3n’s press office told ForkLog.

The initiative aims to support the development of arts, entertainment and cultural projects on the Avalanche platform.

Culture Catalyst’s first project will be an “intergalactic children’s metaverse” from Canadian musician and singer Claire Alice Boucher, known as Grimes. In 2021, she sold her NFT collection for $6 million.

Media platform Op3n in collaboration with American singer Ava Max will release her new music video.

Recall that in March 2022, the Avalanche Foundation launched a $ 290 million Multiverse incentive program to develop the functionality of the ecosystem subnets.

Yuga Labs, behind the Bored Ape Yacht Club NFT collection, has previously raised $450 million to create its own metaverse.

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