Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation

The
Manta
Foundation
has
announced
the
launch
of
its
$50
million
EcoFund,
aimed
at
cultivating
a
robust
ecosystem
for
leading
blockchain
projects,
according
to

Manta
Network.
This
initiative
comes
as
part
of
the
foundation’s
commitment
to
providing
funding
opportunities
and
developer
support
to
innovative
projects
within
the
blockchain
space.

Funding
and
Support
Opportunities

The
EcoFund,
which
is
set
to
run
for
one
year
starting
June
15th,
offers
substantial
financial
support
through
its
Ecosystem
Grant
Program.
The
program
is
designed
to
empower
early-stage
projects
with
grants
up
to
$50,000,
providing
essential
initial
funding
to
bring
innovative
ideas
to
fruition.

In
addition
to
the
grants,
the
EcoFund
includes
a
$35
million
allocation
for
direct
investments
in
promising
projects
developing
on
the
Manta
Network.
This
strategic
investment
focuses
on
high-growth
ventures
that
align
with
Manta
Network’s
long-term
goals,
fostering
an
environment
of
collaboration
and
mutual
growth.

Diverse
Project
Focus

The
Manta
Foundation
is
committed
to
supporting
a
wide
range
of
projects
across
various
sectors,
including





DeFi,
Gaming,
NFTs,
and
more.
These
initiatives
are
selected
for
their
potential
to
drive
consumer
adoption
and
contribute
significantly
to
the
growth
of
the
Manta
Network
ecosystem.

Applications
for
the
EcoFund
are
accepted
on
a
rolling
basis,
ensuring
continuous
opportunities
for
funding
and
support.
The
foundation
places
a
strong
emphasis
on
projects
that
demonstrate
a
robust
business
model
and
scalability,
aiming
to
ensure
the
financial
health
and
sustainability
of
the
ecosystem.

Specialized
Funding
Categories

Beyond
general
grants,
the
EcoFund
also
targets
specific
areas
of
interest
with
high
growth
potential:

• 
  AI/DePIN:
  Focused
  on
  leveraging
  AI
  and
  Decentralized
  Physical
  Infrastructure
  Networks
  to
  drive
  innovation
  and
  create
  sustainable
  solutions.
• 
  Zero-Knowledge:
  Investments
  in
  zero-knowledge
  technology
  to
  enhance
  privacy
  and
  security
  within
  the
  blockchain
  space.
• 
  Memecoins:
  The
  Moon
  Mission
  Grant
  supports
  the
  development
  and
  acceleration
  of
  meme
  projects
  on
  Manta
  Pacific,
  fostering
  a
  vibrant
  memecoin
  culture.

Events
and
Hackathons

To
further
enrich
the
ecosystem,
the
Manta
Foundation
has
allocated
$5
million
towards
online
and
offline
events
and
hackathons.
These
events
aim
to
attract
new
developers
and
users,
cultivating
a
culture
of
innovation
and
collaboration
within
the
Manta
Network
community.

About
Manta
Network

Manta
Network
is
a
modular
blockchain
designed
for
zero-knowledge
(ZK)
applications.
Manta
Pacific,
its
modular
L2
ecosystem,
supports
EVM-native
ZK
applications
and
dApps,
offering
low
gas
fees
and
an
optimal
user
experience.
Manta
Network
was
founded
by
a
team
with
backgrounds
from
prestigious
institutions
such
as
Harvard,
MIT,
and
Algorand,
and
has
received
investments
from
top
web3
funds
including
Binance
Labs
and
Polychain
Capital.

Image
source:
Shutterstock