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The HBAR Foundation, an independent non-profit organization of distributed ledger company Hedera Hashgraph, has announced the creation of a $250 million metaverse fund to motivate users to use the brand for token applications on the Web3.
The organization's team has launched applications across both Web3 and the Hedera ecosystem in a business-to-direct customer (B2C) model and acts as an intermediary between the parties. The metaverse fund focuses on four areas: blockchain games, brands and collectibles markets, sports experiences, and institutional metaverse opportunities.
Sayl, the fund's first recipient, runs an ownership relationship management (ORM) platform focused on enhancing commercial connectivity between brands and users with the integration of the Web3 mechanism.
In a video conference with Alex Russman, director of the metaverse foundation at the HBAR Foundation, he touched on a range of issues, including the reasons for working with Sayl, the importance of technology architecture in the universe, as well as collaborations with gaming and sports platforms, And the fashion brands are about to be announced here.
Sayl's current Global Customer Relationship Management (CRM) operation serves 300 businesses, including industry giants such as Proctor & Gamble, Loreal and Brussels Airport.
According to Russman, "they see the potential of Web3, so they're integrating NFT and tokens into their services. This is a service that allows large companies to understand how tokens relate to and fit into their business."
This service is more than just a simple integration between the market and wallet into "a deeper management tool" in the Sayl Store Manager app. He says the service includes designing, releasing and distributing NFT to users. These processes help users overcome educational barriers to access the brands they desire.
Rusman added that "this is really a tool combined with Hedera's technology – speed, low cost, sustainability – which makes Hedera and partners like Sayl the top choices for businesses that want to grow in metaverse."
(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
— The HBAR Foundation (Accelerating Hedera) (@HBAR_foundation) April 7, 2022
