EOS Network Ventures (ENV) has committed $20 million to invest directly into EOS EVM and GameFi projects, according to a tweet from EOS Foundation CEO Yves La Rose.
La Rose stated that EOS EVM will have the most funding available for builders, making it an attractive option for developers who want to take advantage of funding opportunities.
The move is part of EOS’ renewed growth strategy, which includes plans for a consensus mechanism upgrade and an overall push to attract more developers and builders to the EOS blockchain.
The commitment from ENV comes ahead of April’s Ethereum Virtual Machine (EVM) launch, which will allow developers to build dapps and decentralized finance (DeFi) applications similar to how they would on Ethereum. EVMs serve as virtual computer utilized by developers for creating decentralized applications and smart contracts.
EOS is looking to attract developers to its blockchain by offering funding opportunities and a renewed focus on technical development and usage.
The funding push is a significant move for EOS, which has faced criticism in the past for raising $4 billion in its initial coin offering (ICO) with little to show in its early years in both technical and usage terms. However, the renewed focus could ultimately boost EOS token prices in the coming months, as well as bolster the value locked on EOS-based decentralized applications.
While EOS faces competition from newer networks such as Arbitrum, zkSync, Optimism, and Solana, among several others, it remains a popular blockchain option for developers and users.
With the commitment from ENV, EOS is looking to solidify its position as a leader in blockchain innovation and attract the best talent in the industry.
