Decentralized data indexing protocol The Graph has launched a $205 million fund to provide grants to dApps developers in the project ecosystem.
Funding has been provided by Digital Currency Group, Multicoin Capital, Reciprocal Ventures, HashKey, Gumi Cryptos Capital and NGC Ventures.
The fund is aimed at creators of decentralized applications using The Graph technology. They can cover different sectors – from DeFi and NFT to metaverses and cross-chain infrastructure.
Reciprocal Ventures partner Craig Burel has noted that many applications and protocols “work with centralized platforms and solution providers.” He has stressed:
“In the short term, this will remain so until more decentralized alternatives emerge. To bring this future closer, we have teamed up with some of the biggest players in the crypto industry to provide strategic capital and resources to developers who are aligned with The Graph’s mission to deliver Web 3.0.”