Solana is embarking on a journey with $100 million aimed at enhancing Web3 initiatives in South Korea.

The funds will strategically position Solana to compete with rivals like Polygon and Avalanche while appealing to both new investors and developers who were previously aligned with the now-defunct Luna. Luna-Terra collapse.  

This isn’t just about the stark market downturn; it also stems from the lingering concerns regarding 'key person' risks and skepticism surrounding whether developers' applications will attract meaningful user engagement, especially as the original community has diminished significantly.

Jaemin Park, who serves as a growth manager at DeSpread, noted these industry sentiments. said While the seed funding supports a broad range of Web3 ventures, there’s a particular focus on nurturing South Korea’s blockchain gaming ecosystem.

Nonetheless, game creators will need to think outside the box, especially since play-to-earn (P2E) games are currently prohibited in South Korea. Last December, authorities stepped in to

enforce a ban, leading Apple and Google to pull P2E games from their Korean app platforms. blockchain games Recently, the South Korean government expressed its ambition to emerge as a global frontrunner in NFT and Metaverse development. demanded PUBG stands out as the most beloved video game in the nation, with its developer, KRAFTON Inc., having raised an impressive $3.8 billion in August during Korea's second-largest IPO. In March, they announced a partnership with Solana Labs to launch several P2E projects this year.

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