Colony, the prime accelerator for the Avalanche ecosystem, had in its latest investment round received $18.5 million. The Avalanche Foundation piloted the funding round. The Avalanche Foundation is the arrowhead for Avalanche’s product development support.
Other participants in the funding round included GBV Capital, Bixin Ventures, HashKey, and Shima Capital. Colony community members also played a part in the funding round.
Monies realized from the funding round will be used for investment in budding projects (via ecosystem farming) and liquidity provision for the various projects.
The AVAX Effect Resonates Across the Blockchain Space
AVAX has been one of the top-earning cryptocurrency projects this year. Many see Avalanche as an Ethereum Killer. In many aspects, Avalanche has proven its mettle within the cryptocurrency space.
The Avalanche ecosystem has filled in obvious gaps that have existed. It has given the ecosystem the required push for new projects that dot the landscape.
