- Qtum Chain Foundation is launching a venture capital group
- The VC group will be taking a blockchain-agnostic approach
- Qtum is a Proof-of-Stake blockchain platform for smart contracts that combines properties of both Bitcoin and Ethereum
Qtum Chain Foundation is launching a VC group
The Qtum Chain Foundation is launching its own venture capital group based in Stockholm, Sweden. The VC group will start with an initial pledge of $10 million and will be looking to invest in different areas related to cryptocurrency and blockchain technology. Some of the main areas the project is targeting are decentralized finance, non-fungible tokens (NFTs), layer 2 technologies and green blockchain solutions. The VC group will be looking to invest in projects at an early stage (seed investments), and will also provide support through strategic advice to help them grow and succeed.
According to Antonio Saaranen, who is the director of the newly launched venture capital group, says that they will adopting a blockchain-agnostic approach – in other words, they won’t just be backing Qtum-based projects, but will be looking for opportunities on other blockchain platforms as well.
“We will have a blockchain agnostic approach in this fund and are willing to work with any projects that wish to contribute to the blockchain ecosystem as a whole. 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 the market.”
Qtum is a blockchain project that combines aspects of both Bitcoin and Ethereum to try and deliver an optimal combination between security and flexibility. Qtum uses Proof-of-Stake consensus and leverages the UTXO model introduced by Bitcoin.
However, it also supports the EVM and X86 VM virtual machines, which allows it to support smart contracts and consequently popular blockchain use-cases like DeFi and NFTs. Last year, the project reached a major milestone by introducing support for offline staking. For more information about what the project has in store, you can check out this blog post that provides a detailed overview of Qtum’s 2021 roadmap.
Qtum’s native token QTUM has been a mainstay in the cryptocurrency top 100, and the token has been riding the positive cryptocurrency market sentiment in 2021. Since January 1, QTUM is up by around 571%. Tags: