EOS Network Ventures pledges $20M to fuel Dapps and games development

• EOS Network has promised to fund developers with the sum of $100 million.
• The fund will be used to grow the EVM ecosystem with a focus on DeFi and GameFi.

EOS Network is doubling down on its push for its Ethereum Virtual Machine (EVM) to a whole new pedestal with the pledge of the sum of $20 million to developers looking to leverage its new capability. The fund is specifically targeted at builders who want to build innovative Decentralized Finance (DeFi) as well as GameFi projects for users on EOS to benefit.

BREAKING NEWS

EOS Network Ventures (ENV) is making a formal commitment to invest $20M directly into $EOS EVM and GameFi projects!

In addition to being BY FAR the fastest EVM, EOS EVM will also have the most funding available for builders.#EOS is officially open for business! pic.twitter.com/xAYIHoLB4O

— Yves La Rose (@BigBeardSamurai) March 20, 2023

The push to launch EVM compatibilities has been a long-standing agenda for EOS. As an open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience, the EVM on EOS has been described by experts as the fastest EVM and with the new funding pledge, it is set to be the protocol with the most robust funding of all.

The pledge to bootstrap builders with the $20 million funding for DApps is designed to water the grounds ahead of the official launch of the EVM protocol which is set to go live in April. 

EOS Network Ventures (ENV) is making a formal commitment to invest $20M directly into $EOS EVM and GameFi projects,” EOS Foundation CEO Yves La Rose tweeted in the early hours of today, adding that “EOS EVM will also have the most funding available for builders.

The incentivization approach that was adopted by EOS is considered a thoughtful move that will present a win-win situation for both the protocol and its prospective developers.

With $20M up for grabs for EVM projects, we expect a massive influx of developers who want to take advantage of the funding opportunities,” La Rose said, adding the commitment was made to attract developers and builders to the EOS blockchain in the coming months.

Creating the EVM capability is considered the next step for EOS which has already carved a niche for itself as a blockchain designed to help developers build what is impossible on other protocols.

The Price Upshoot of the EOS EVM Pledge

EOS price is seeing a unique upsurge today, not just because of the broader bullish outlook in the digital currency ecosystem, but because of the prospect of a bright future, the protocol is brandishing.

At the time of writing, EOS is trading at a price of $1.22, up 7.66% in the past 24 hours and by more than 18.66% in the trailing 7-day period. The price growth is evidence that the community is optimistic about the future of the protocol, and is making their bets in line with this bullish belief.

More blockchain protocols are beginning to adopt the idea to go all out in floating smart contract functionalities through EVM integration. Filecoin (FIL) is one other protocol that trailed this path with its Filecoin Virtual Machine (FVM) launching last week as reported by Crypto-News Flash. The price of FIL soared following the launch and expectations abound that a similar fate awaits EOS when its EVM version goes live.

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