Five blockchain startups have obtained financing through ICO and have created an investment fund of 100 million dollars to help other projects that are relied on the Ethereum’s technology.
Ethereum Community Fund is backing OmiseGo, Golem, Cosmos and many more. The founder of Ethereum has a consulting role to this fund and he is offering advice to anyone who wants to join this blockchain startups world. The market cap of OmiseGo is of 1.8 billion dollars, which is pretty much for a startup. Also, Golem has a market cap of 370 million dollars, while Maker, another financed coin has a 718 million dollars capitalization.
The financing comes under the form of a fellowship and are destined only for companies that are willing to launch projects based on the blockchain technology. ECF is not offering details regarding the fellowships at the moment, but according to TechCrunch, the amounts might vary around 50k and 500k dollars. The development of this field is very encouraged lately by different fund raisings. ICOs are seeking for development inside this space by encouraging companies to develop platforms based on blockchain technology.
Many Ripple representatives have taken part of the financing of Omni based in San Francisco and this trend will follow in the next period of time.