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The Dfinity Foundation has announced a grant fund of nearly a quarter billion dollars to support initiatives to get more developers working on its Internet Computer and make it easier once they do so.
The Internet Computer (TIC) is a new blockchain system from Dfinity that it claims enables decentralized services at speeds familiar to internet users, by running smart contracts (called canisters) on made-for-purpose machines in data centers around the world.
The new fund has 200 million Swiss francs (approximately $223 million) to put to work.
“Our aim is to support the reimagination of all systems and services in new forms using smart contracts on an infinite public blockchain, and nothing else. What the world now builds to take advantage of blockchain’s new capabilities shall be an important and fascinating next chapter,” Dominic Williams, founder of the Dfinity Foundation, said in a press release.
Interested developers can get more information on the Dfinity website.
The fund is available for projects such as tools for developers to speed up coding, infrastructure such as oracles and block explorers, accelerators and applications that might bring in users.
Olaf Carlson-Wee, founder and CEO of Polychain Capital, said in a statement, “What I am excited to fund is a service or product that is native to the new system rather than what feels like a porting of an application from Web 2 to Web 3.”
Polychain leads the $14.5 million Beacon Fund which also funds projects built for TIC.
As of this writing, ICP, the network’s native token, is trading at $139.36, well below the $400 it traded at early on, when it first went live on the COINBASE Pro exchange.
