- Qtum Chain Foundation is launching a venture capital group based in Sweden.
- So far Qtum has pledged $10 million towards the group, Qtum VC.
- Qtum VC will focus on supporting promising emerging blockchain projects.
“Our initial pledge for the fund will be $10M, and we’re open to partnering up with similar entities in the crypto space. We will have a blockchain agnostic approach in this fund and are willing to work with any project that wishes to contribute to the blockchain ecosystem as a whole”, says Group Director Antonio Saaranen.
In fact, the group, which will be based in Qtum’s Stockholm offices, will provide strategic support and funding for promising blockchain projects. Qtum currently supports a robust network of DApps, smart contracts, DeFi-products, and non-fungible tokens (NFTs). Similarly, the group will focus on startup projects in these blockchain areas.
In addition, Qtum VC will explore opportunities in the fields of green-blockchain, Layer 0, and Layer 2 platforms. In fact, Qtum is a highly socially aware blockchain that uses the energy-efficient Proof of Stake (PoS) protocol. Also, the blockchain pledged to match any donations made towards providing COVID-19 vaccines to the less fortunate through Vaccine Forward.
As such, Qtum is committed to not only solving blockchain problems but also real-world ones. Towards this end, Saaranen also said, “With this venture capital group, Qtum can take advantage of our team’s deep experience in blockchain and, at the same time, help aspiring projects hit the ground running and come to market.”
The blockchain is also encouraging interested parties to contact Qtum VC to learn more about funding and partnership opportunities.