Filecoin ecosystem: $10 million funding from Block Dream Fund

The Filecoin ecosystem will receive a $10 million fund from Block Dream Fund, OKEx‘s investment institute, to support the projects of the crypto focused on storage.

A few days ago, Filecoin announced its new partnership with Block Dream Fund, which will provide the funds to support various programs in the Filecoin network. Some of them include specifically: 

• Filecoin Slingshot, 
• Filecoin Launchpad Accelerator (led by Tachyon), 
• Filecoin Frontier Accelerator (led by Longhash Ventures),

and others.

Apparently, the crypto project dedicated to storage continues its development. In this regard, Block Dream Fund founder Dora said:

“We predict that the distributed storage market will explode in the coming years and want to invest our resources in companies building on Filecoin. We expect several unicorn startups to emerge from the Filecoin ecosystem”.

In fact, the Block Dream Fund is specifically dedicated to exploring the best blockchain projects (calling them “dreams”) around the world, supporting innovation and promoting the sustainable development of the global blockchain industry. The investments are structural and, therefore, long-term. 

And amongst Block Dream Fund’s dream projects, Filecoin seems to be the crypto of choice for substantial investment capital, in the size of $10 million. 

Filecoin and Block Dream Fund: the collaboration with OKEx

In the press release issued, Filecoin outlines the areas that will be supported by the OKEx institution’s fund. Specifically, it talks about business development with OKEx’s expert entrepreneurial guidance, connections with OKEx’s key global resources and trading platform support.

OKEx is a crypto exchange with an average daily market capitalization volume of $7.5 billion. Its involvement in the Filecoin Ecosystem would help the network establish significant new strategic partnerships. 

One example is the potential development of Filecoin in areas such as China, Silicon Valley, Japan, South Korea and Southeast Asia, where OKEx maintains a global resource network with local media and KOLs.

Moreover, since OKEx is an exchange, it can offer free and immediate access to Filecoin products directly in the services of the trading platform. 

Colin Evran, Ecosystem Lead for the Filecoin project said:

“Thousands of developers and hundreds of projects are joining the Filecoin ecosystem through hackathons, meetups, accelerators, grants programs, and other events organized by the community. These entrepreneurs and developers are generating innovative new use cases and business models on IPFS & Filecoin that could accelerate the adoption of Web3. OKEx’s Block Dream Fund is well-positioned to arm these projects with the mentorship and growth capital they need to succeed”.

Recently, Filecoin has also been involved with MetaMask, Ethereum’s wallet, for its new project to create Web3 sites directly from MetaMask Snap. To date, the distributed storage crypto ranks 14th by market cap, at a price of $162.