IoTeX, the blockchain platform focused on the Internet of Things, announced that it has launched a $100 million sustainable ecosystem fund.
Sustainable in the statement of the IoTex Foundation ecosystem fund, He said he started it to support the decentralized machine economy (MachineFi).
Decentralized machines powered by blockchain technology and artificial intelligence; than current machines. efficient, safe and sustainable said to have the potential to work.
According to IoTex’s statement, MachineFi is an internet-connected device to provide ownership. redeemable is the situation. In addition, MachineFi’s goal is to profit from financing devices. distribute to users is stated to be.
Jing Sun, Head of Investment and Ecosystem of IoTex, said in a statement on the subject:
With the fund launched, we will support more than 10,000 MachineFi-focused businesses and connect 10 billion devices to the IoTex MachineFi portal over the next 10 to 20 years.
said.
In November of 2021, IoTeX was introduced to traditional business. your power to the metaverse to integrate and Being able to focus on MachineFi announced its rebranding.
In the past weeks, IoTeX co-founder Dr. Raullen Chai said that he thinks the cryptocurrency market could reach all-time highs by the end of the year.