The HBAR Foundation has rolled out a metaverse fund to help encourage developers of immersive experiences to design solutions for its blockchain ecosystem, a report says.
HBAR works on accelerating use cases for the Hedera network. The Hedera network is a distributed ledger service, providing an “enterprise-grade public network” that works on decentralized and digital financing.
The fund is for $250 million. The report notes that the foundation will also be accepting NFTs and decentralized finance apps. And the fund has reportedly recognized the importance of virtual economies, with the awarded capital going toward giving the developers abilities to make new eCommerce solutions benefiting enterprises, brands and the Hedera service.
The HBAR Foundation is making the fund to target B2C and B2B2C cases, which introduce users and enterprises to the Hedera system and blockchain technology.
Hedera software development kits can come in several forms, letting developers make a wide array of immersive solutions. The use cases can range from anything from healthcare to gaming, and groups like the British National Health Service (NHS), SAFE, and Arizona State University have made some of the use cases before.
The Hedera platform has also encouraged video game publishers and developers to use the network to boost pay-to-play experiences, with game developers also able to make secure in-game digital currencies and selling of digital goods.
Read more: Circle to Support USDC on Hedera Network
Circle said last year it planned to support USDC on Hedera, PYMNTS wrote.
Circle said in a news release that USDC on Hedera was available to use as of October.
The company also said at the time that its suite of developer APIs had been updated to support USDC on Hedera, with the company saying this went along with the HBAR Foundation, which had just been formed at the time to help entrepreneurs.
Jeremy Allaire, CEO and co-founder of Circle, said the USDC being on Hedera meant people would be able to take advantage of dollar digital currencies, with more access to deep liquidity overall.