CSC Special Fund for Metaverse Projects, A Voyage towards the New Economy
On November 2, the American tech giant Microsoft unveiled its ambitions to enter the metaverse market, four days after Facebook’s recent rebranding to name itself “Meta”. However, the two magnates are not the only players making big bets on the hit concept. Long before their moves, Tencent, Bytedance, Nike, Nvidia, Snapchat, and other renowned companies had already laid out plans for the new market. It may provoke a question: What makes the metaverse so appealing that even the tycoons are jostling for a share?
It’s not the first time this year that the “metaverse” has hit the headlines. With the NFT and GameFi booms, the metaverse becomes the new center of attention, which can be explained by both economic and social reasons. Recently, profits from the mobile internet have begun to wear off from the peak, whereas the metaverse, as a platform integrates the virtual world and the real world, provides excellent opportunities to revolutionize social, content, gaming, office, and other fields. No wonder traditional digital technology enterprises and new start-ups have flooded into the stiff competition to broaden their business base.
Though a late-comer to the public chain field, CoinEx Smart Chain has always been an active promoter of and contributor to the blockchain ecosystem and has laid out its plans towards the niche market in the underlying infrastructure construction. As early as in September, CSC has simultaneously initiated the Global Hackathon Grants and a special fund for metaverse projects to attract more capital and companies to join the metaverse market and empower the start-ups technically and financially.
CSC has set up a $5 million support fund, which is open to all metaverse projects developed or migrated to it.
1. Mature metaverse projects and NFT projects with a community of more than 10,000 users can receive a $10,000 support fund after being migrated to CSC;
2. Projects yet to be launched with a complete whitepaper, official website, and token model can receive a $20,000 support fund if they choose CSC for the first launch;
3. Projects in the prototype phase can telegram @seven025 for funding consultation. Once the application passes, you will receive funding support of at least $10,000;
4. Among other applicants, the CSC Foundation will make strategic investments of at least $200,000 in those quality projects.
CoinEx Smart Chain is a public chain based on the PoS consensus protocol and fully compatible with the Ethereum ecosystem. It is perfectly compatible with smart contracts on ETH, BSC, and HECO, making itself a safe, stable, fast, and low-cost chain. In this way, this public chain dramatically reduces the DApp development and migration costs and offers an open and friendly ecosystem for developers.
Since the launch of the CSC mainnet, it has received a growing number of decentralized exchanges, Web 3.0 infrastructure, and NFT projects. With the resources and financial supports in the CoinEx Hackathon Grants, the on-chain assets of the Waterloan project have exceeded 100 million CET. Based on its good practices in project incubation and resource support, CSC has set up a special fund to accelerate the development of the metaverse market, in a step further into this field to embrace a new era of the metaverse.