According to Forbes, blockchain Flow has received $725 million in new ecosystem funding from the investment arm of its parent company, Dapper Ventures, and a group of investors: Andreessen Horowitz (a16z), Coatue and Digital Currency Group.
The funds will be used to support more than 7,500 developers.
The initiative is expected to help Flow grow in a number of ways, particularly in games and Defi.
Decisions on the distribution of funds will be made by the fund organizers.
According to the publication, Greenfield One will provide office space for developers from Berlin; Liberty City Ventures will offer two scholarships to college students to work on Flow-related projects; and Miranda Ventures will provide opportunities for strategic interaction between Flow-based projects with the Bybit exchange and the BitDAO decentralized investment fund, which is backed by Peter Thiel.