This is the largest fund the HBAR foundation has launched to date, a statement of intent for their aspiration in the tokenized economy and metaverse space.
The HBAR Foundation, a not-for-profit independent organization of distributed ledger firm Hedera Hashgraph, has announced the establishment of a $250 million dollar metaverse fund to drive consumer brand adoption of tokenized Web3 applications.
The foundation’s team has identified applications within both the Web3 and Hedera ecosystems building direct from business-to-consumer, and acting as a reciprocal middle-man between all parties for the metaverse fund to focus their efforts across four sectors: blockchain gaming, brands and collectibles market, sporting experiences, and institutional metaverse opportunities.
The fund’s inaugural recipient, Sayl, operates an owner relationship management (ORM) platform focused on strengthening the commercial connection between brands and consumers with the integration of Web3 mechanics.
In a video conversation with the Alex Russman, Director of the Metaverse Fund at the HBAR Foundation spoke to Cointelegraph about an array of subjects including the reasons for partnering with Sayl, the important of technological architecture in the space, as well as upcoming yet-to-be-announced partnerships with gaming and sports platforms, and fashion brands”
Sayl’s current global customer relationship management (CRM) operation serves over 300 corporations, including industry-giants such as Proctor and Gamble, Loreal, and Brussels Airport, among others.
According to Russman, “they see the potential of Web3, so are integrating NFTs and tokens into that offering, being that hand-hold service that allows a large enterprise to understand how tokens relate and fit into their business.”
This extends further than a simple marketplace hub and wallet integration to “deeper management tools” within the Sayl Store Manager App. He said the includes designing, issuing and distributing of NFTs to consumers, all of which supports in the lowering of the educational barrier-to-entry for customers interacting with their desired brands.
Russman continued on to note that “it’s really that tooling combined with Hedera’s technology — speed, low-fees, sustainability — that makes Hedera and partners like Sayl the obvious choice for the enterprise metaverse to flourish.”
(1) We’re excited to officially announce the launch of the #Metaverse Fund, a major acceleration force for #gaming, virtual worlds, fashion, #NFTs, consumer brands, social platforms, the creator economy, & enterprise to enter the #Hedera ecosystem ⚡ https://t.co/0tFydGDMlV pic.twitter.com/HVprXZ5FyL
Speaking on Sayl’s illustrious lists of clients, Russman stressed the immense consideration that must occur with such a large enterprises entering the Web3 space, noting that “it’s not the same as doing a single NFT drop”, but that:
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