Morph and Foresight Ventures Launch $20M Ecosystem Fund for Early-Stage Consumer Blockchain Projects

New York, United States, August 29th, 2024, Chainwire

The initiative will support projects building within the Morph ecosystem through financial resources and personalized guidance, helping them achieve long-term success

Morph, the global consumer layer for driving blockchain adoption for the mass markets has announced today a partnership with Foresight Ventures, establishing a $20 million Ecosystem Fund which aims to accelerate the development and deployment of consumer blockchain projects within the Morph ecosystem and the industry as a whole.

The Morph Ecosystem Fund is a comprehensive program that offers early-stage consumer blockchain projects with advanced blockchain infrastructure and the necessary financial resources and guidance through the likes of capital investment, fundraising, promotional power, technical and operational expertise, and exchange listing.

“Our vision is to create lasting strategic alliances that will elevate Morph's capabilities and expand its influence,” said Cecilia Hsueh, CEO and Co-Founder of Morph.“ This program is not just about financial support; it's about providing a holistic growth environment for pioneering consumer blockchain projects. By leveraging Morph's advanced blockchain infrastructure and our investment expertise, we aim to drive innovation and create significant value within the Morph ecosystem.”

The program will match projects one-on-one with strategic venture partners and offer fundraising support to help structure deals, secure additional funding, and navigate the complex investment landscape. Projects will be given access to Morph’s technical resources, development tools, and operational expertise and provided with co-promotion on Morph's media channels, social platforms, and at industry events to boost their brand visibility.

Forest Bai, Co-Founder of Foresight Ventures, said “We see consumer applications as the sole gateway to mass adoption and are excited to back an ecosystem so dedicated to consumers. Morph Network offers a highly practical tech stack, an ecosystem acceleration system, and unparalleled advantages in regional markets.”

The Morph Ecosystem Fund will select applicants who not only offer innovative real-world consumer blockchain solutions and practical utility to the web3 and broader tech landscape but also align with Morph’s long-term strategic goals and have the potential to enhance the overall blockchain ecosystem.

Consumer blockchain projects can apply for the program by visiting www.morphl2.io for more information on eligibility criteria and the application process.

About Morph

Morph is a fully permissionless EVM L2 that uses a combination of optimistic and zero knowledge rollup technology to enable limitless possibilities in entertainment, social, lifestyle and loyalty. Morph is the first Layer 2 on Ethereum to launch with a decentralized sequencer, aligning it with several core principles of web3—decentralization, censorship resistance, and security. The blockchain was built with mainstream audiences like gamers and social media users in mind, making it a user-friendly option for developers who require a chain to build these types of apps. Bitget, the world's leading cryptocurrency exchange, is an original investor in Morph that will continue to play a role amongst the other investors in shaping the Morph ecosystem.

Morph’s founders bring unique backgrounds and perspectives to the company. Cecilia Hsueh, Morph’s Co-Founder and CEO, previously founded Phemex, a top global crypto derivatives exchange. Azeem Khan, Co-Founder and COO, was formerly Head of Impact at Gitcoin, where he helped lead one of the most notable grant programs in the space. Together they launched Morph to empower people who have historically been excluded by the traditional financial system.

About Foresight Ventures

A research-driven crypto investment & incubation powerhouse with a premier media network, serving as the most essential bridge connecting Eastern and Western ecosystems. With a track record of supporting early-stage projects and driving technological advancements, Foresight Ventures is committed to partnering with visionary projects that have the potential to reshape the future of digital finance and beyond.

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This article was originally published on Chainwire

Source: Investing.com