The flagship gaming and social media funds of Solana have been partially deployed

At breakpoint 2021, Solana Labs publicized two flagship funds: a $100 million fund centered on decentralizing social media and a $150 million capital to promote blockchain-based gaming.

The social media capital was in collaboration with Reddit co-founder Alexis Ohanian, at the same time the gaming capital was in collaboration with blockchain gaming startup Forte and VC company Griffin Gaming Partners and was anticipated to be completely employed within 1.5 years.

One year later, the capital has only been partly placed and the concentration has been on little seed round investments, as per Solana Labs Chief executive officer Anatoly Yakovenko, who gave an interview at the beginning of this November in Lisbon at Breakpoint this year. With regards to the social media fund, Yakovenko stated the number positioned already is “somewhere about half.”

We have done a chunk of small investments like normally our seed level checks from Solana ventures are $100K or something like that. So, we are never a big guide,” he revealed.

When it is a matter of social media, Yakovenko stated that many products are in a growing phase, comprising Dispatch, Squads, Dialect, and Wordcell, which are successfully decentralized versions of Reddit, Whatsapp, Twitter, and other social media platforms.

“So, every arrangement of social is being attempted. It is still very soon, right?” Yakovenko stated, including that the projects have had just one year to create so far and are under great pressure to grind for product market fit. “I would love to witness like one million users over all of them at coming Breakpoint.”

As for the gaming capital, more fund has been placed there, and a representative for Solana Labs broke in. But it is exact same thing. Yakovenko stated only little checks have been written and Solana Labs has not had to place the majority of the fund.

As for the condition of blockchain gaming on Solana, Yakovenko revealed that 37 games are either live or in the process of it. He compared this to the last Breakpoint where there was a lack of gaming teams.

The Breakpoint

Breakpoint was a first-ever, real-life, and worldwide celebration in which the entire Solana ecosystem assembled in Lisbon in 2021. In that event, builders, lovers, and dreamers came there to work, learn and play.

Now, a year of massive ecosystem development later, the breakpoint got back with more places, more events, and more Solana.