Blockchain Founders Fund leads $500,000 seed round for Koinos
- Koinos is a free-to-use blockchain developed by a group that also helped create the Steem blockchain.
- Koinos Group said Blockchain Founders Fund led the seed round, with blockchain gaming platform Splinterlands participating.
- Koinos will use the funds to build Koinos Pro, a software product suite to help developers build scalable decentralized applications.
In the latest cryptocurrency news, Koinos Group, the developer of the free blockchain Koinos, has announced a $500,000 seed round.
Blockchain Founders Fund is leading Koino’s seed round
According to a press release CoinJournaI got on Thursday, the Singapore-based industry-focused venture fund Blockchain Founders Fund which led the seed round. The blockchain gaming company Splinterlands also participated in the round.
“Blockchain Founders Fund shows leadership in the space as a whole by committing funds to a company whose entire business model is based on supporting a truly decentralized platform, as opposed to a platform that is decentralized in name only“, said Koinos Group CEO Andrew Levine.
Koinos Group will use the funds to develop Koinos Pro, a subscription product that allows developers to release highly scalable decentralized applications (dApps). In a chirping on Thursday, the platform said that Koinos Pro is a software that will help completely remove entry barriers to the dApps ecosystem.
We are pleased to announce the close of a $500,000 seed round that included investment from @BlockchainFF and @splinterlands. This will allow us to build #KoinosPRO; software to empower developers to build dApps with NO BARRIER TO ENTRY!
— KoinosGroup 🔮 (@TheKoinosGroup) 19 January 2023
Already, the Koinos blockchain allows developers to build and launch free-to-use dApps in any programming language, meaning users can access high-performance apps as easily as in the Web2 ecosystem.
Founded in 2020, Koinos Group is a project overseen by several blockchain veterans – including a core developer group of the Steem blockchain.
The funding round comes just over two months after Koino’s mainnet went public, notably without involving an initial coin offering (ICO), pre-mine or airdrop to insiders and such. Koino’s “Mana” system allows people without the original KOIN token to still access the blockchain.
