ICYMI: Solana to support projects from South Korea and invest in Terra-based apps affected by the project's collapse Terra SOL $SOL
While the newly created fund will be mainly focused on supporting projects from South Korea, it will also invest in Terra-based applications affected by the collapse of the project.Solana Ventures wants to tap into South Korea's growing gaming community.
Johnny Lee, general manager of games at Solana Labs, expects some exciting projects to launch on top of the network. It remains to be seen whether Solana will be able to win over skeptics in the gaming industry who continue to reject blockchain and NFT. Discord, a popular chat app for gaming, had to shelve its plan to integrate Ethereum after facing pushback from the community.
The"Ethereum killer," which is capable of processing up to 65,000 transactions per second, has now experienced downtime on seven different occasions over the past year. The price of Solana is down 84.91% from its record peak of $259.96, which was registered in early November.
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