The HBAR Foundation, an independent nonprofit organization of distributed ledger technology company Hedera Hashgraph, announced the creation of a $250 million metaverse fund to drive consumer brand adoption of Web 3.0 applications. tokenized.
The foundation team has identified applications within the Web 3.0 and Hedera ecosystems, building directly from business to consumer, and acting as a reciprocal broker between all parties for the metaverse fund to focus its efforts on four sectors: blockchain gaming, market for brands and collectibles, sports experiences and institutional metaverse opportunities.
The fund’s inaugural recipient, Sayloperates 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 chat with Alex Russmann, Director of the Metaverse Fund of the HBAR Foundation, spoke to Cointelegraph on a number of topics including the reasons for partnering with Sayl, the importance of technological architecture in the space, as well as unannounced upcoming partnerships with gaming platforms, sports, and fashion brands.”
Sayl’s current global customer relationship management (CRM) operation services more than 300 companies, including industry giants such as Procter and Gamble, Loreal and Brussels Airport, among others.
According to Russmann, “They see the potential of Web 3.0, so they are integrating NFTs and tokens into that offering, being that handheld service that enables a large company to understand how tokens relate to and fit into their business.”
This goes beyond a simple marketplace and wallet integration to “deeper management tools” within the Sayl Store Manager app. He said this includes the design, issuance and distribution of NFTs to consumers, all of which contribute to lowering the educational barrier for customers to engage with their desired brands.
Russman went on to point out that “it’s really that tool combined with Hedera’s technology – speed, low cost, 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 #gamingvirtual worlds, fashion, #NFTsconsumer brands, social platforms, the creator economy, & enterprise to enter the #Hedera ecosystem âš¡ https://t.co/0tFydGDMlV pic.twitter.com/HVprXZ5FyL
— The HBAR Foundation (@HBAR_foundation) April 7, 2022
Speaking of Sayl’s illustrious client lists, Russman underlined the immense consideration that should be given to the entry of such large companies into the Web 3.0 space, noting that “not the same as doing a single NFT launch”, but:
“These are all long-term relationships, so they are the kind of significant pieces that take the longest to ship, but they are moving the needle for the distributed ledger technology (DLT) industry as a whole, and Hedera is very well positioned as part of that.”
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