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Pi Foundation launched PI Network Ventures, Fund $ 100 million to support startups integrating integration Pi Token in practical cases of use in the real world.
Initiative, notified Aim of 14. May is to increase adoption and control long -term growth within At the ecosystem Focusing on businesses for traditional web3 space.
The foundation said the company would create “most of his investments in the form of PI”. These chips come from 10% of the reserve reserved for ecosystem development.
Co -founder Pi Nicolas Kokkalis said that the fund is in line with the wider goal of the network to connect decentralized technology with everyday life. He stressed that this initiative would benefit both startups and wider community by supporting new cases of use on a scale.
Starting the fund comes as The PI network faced control Above fraud and concern about its lack of usefulness. However, industry analysts consider the risk fund as a step towards legitimizing ecosystem and increasing the relevance of token in traditional markets.
PI Network Ventures
According to a statement, PI Network Ventures plans to support companies in various industries, including artificial intelligence, games, fintets, electronic trading, digital payments, markets and social platforms.
PI Network Ventures will use the Silicon Valley risk capital model. This means that it would perform strict sources and selection processes to identify highly potential startups at different stages of growth, from the early phase to series B and beyond.
Said, however,:
“The Pi Foundation is not obliged to invest a full $ 100 million based on the quality of the applicants and the number of startups admitted to the initiative. PI Network Ventures can invest over time and from time to time and can interrupt investments at any moment.”
Meanwhile, the Pi Foundation pointed out that the fund would offer financial support and expand the token usefulness of the startups to integrate the digital asset into its operations.
In return, supported companies will access the user base of PI Network, which includes millions of individuals verified by identity in more than 200 countries.
