EOS Network Ventures has committed to invest $20 million in capital to develop gaming applications and products on the EOS network following the launch of the Ethereum Virtual Machine (EVM) in April.

“With $20 million reserved for the EVM project, we expect an influx of many developers looking to capitalize on the funding opportunity,” La Rose said, adding that this commitment was made to attract developers and builders to the EOS blockchain in the coming months.

EOS is gearing up for round two with a funding boost ahead of the EVM launch in April. EVM refers to the environment where all Ethereum accounts and smart contracts reside, which serves as a virtual computer used by developers to create decentralized applications (apps).

When used on other blockchains, EVM could allow developers to build dapps and decentralized finance (DeFi) applications similar to what they do on Ethereum. These steps are thanks to the efforts of La Rose, who led the plan to improve the consensus mechanism, the Ethereum Virtual Machine (EVM) system, and an overall updated growth strategy.

EOS has long attracted criticism and scrutiny from market participants for having raised $4 billion in initial coin offerings (ICOs) with little to show for its early years in terms of both technicality and usage.

The renewed push could eventually boost the EOS token price in the coming months, as well as increase the value locked in EOS-based decentralized applications.

Users are spoiled for choice in an increasingly competitive crypto market, however, as relatively newer networks such as Arbitrum, zkSync, Optimism, and Solana, among several others, compete for developer talent and increase their own revenue through token incentives or airdrops.

#GameFi #EOSEVM #crypto2023 #BTC

#BTC New investment round signals commencement of innovative and collaborative era for #EOS DeFiMulti-directional investment, technology and marketing collaboration is set to unlock new potential and catalyze growth in the DeFi space on both EOS mainnet and its #Ethereum! -compatible element, #EOSEVM .NoahArk Tech Group completes funding round with $2.4 million raisedNoahArk Tech Group, a product of the collaboration between Defibox Technology Limited (Defibox.io) and Hong Kong Noah Technology Limited (Noahark.io), announces the conclusion of a strategic $2.4 million investment round fueled by EOS Network Ventures (ENV).As 2024 kicks off, we wanted to look back on all of the epic milestones that EOS achieved in 2023 📆Get up to speeds on major achievements like🚀 Launch of $EOS  EVM🥳 Inception of #EOSLabs 💰 Investments From ENV➕ MoreRead Update 👇https://t.co/IHpZFRgvVV🧵👇 pic.twitter.com/xXrV05daX5— EOS Network Foundation (@EOSNetworkFDN) January 9, 2024Investment by ENV into NoahArk Tech Group is not just a financial endorsement but a strategic collaboration aimed at fostering innovation within the EOS ecosystem. This partnership is expected to unlock new potential and catalyze growth in the DeFi space.NoahArk Tech Group CEO, Eason, shares his excitement about the prospects the new collaboration unlocks for all actors in the DeFi ecosystem:This investment from EOS Network Ventures, coupled with the reorganization of Defibox.io and Noahark.io, marks a transformative phase for the EOS DeFi ecosystem. In this new phase, the EOS EVM will significantly enhance our operational capabilities, making it easier for established products and developers to participate and enabling the fluid movement of various assets through cross-chain bridges.NoahArk Tech Group is the result of a collaboration initiated by Defibox Technology Limited (Defibox.io) and Hong Kong Noah Technology Limited (Noahark.io). Their shared mission is to build a robust DeFi (Decentralized Finance) alliance within the EOS ecosystem, primarily focusing on decentralized exchange (DEX) activities.As covered by U.Today previously, EOS Network Ventures recently fueled GameFi innovator EZ Swap with $500,000 investment.NoahArk Tech Group launched to change the narrative for EOS and EOS EVMYves La Rose, Director of EOS Network Ventures (ENV), commented on their investment in NoahArk Tech Group and stressed its role in DeFi infrastructure growth:Through our investment in NoahArk Tech Group, we're not just funding a company, we're investing in the future of DeFi on the EOS Network. We're confident in their ability to innovate and believe this partnership will lead to significant advancements in the EOS ecosystem. This move is more than just financial support; it's a commitment to driving growth and new developments in DeFi. We see NoahArk Tech Group as a key player in enhancing decentralized exchanges and our strategic vision is to support the creation of more interconnected and user-friendly DeFi services, benefiting the entire sector.NoahArk Group's long-term strategy includes leveraging the strengths of both Defibox.io, a prominent DeFi platform on EOS Native, and Noahark.io, a new-gen DeFi project on EOS EVM, to drive a broad spectrum of innovative efforts in the DeFi sector.Following long-awaited reorganization, Defibox.io and Noahark.io will continue to operate independently in terms of product branding, yet will fully share resources — including funds, personnel and technology — under the leadership of NoahArk Tech Group.🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice.

Yves La Rose, the CEO of EOS Network Ventures, has announced a $20 million investment into EOS EVM and GameFi projects. La Rose made the announcement via Twitter on March 20, stating that EOS EVM would redefine the limits of what’s possible with an EVM and that it was BY FAR the fastest EVM on the market.

EOS is an open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience. As a third-generation blockchain platform powered by the EOS virtual machine, EOS has an extensible WebAssembly engine for deterministic execution of near fee-less transactions.

La Rose’s announcement stated that with $20 million of funding available, EOS EVM would have the most funding available for builders. He also highlighted that EOS EVM is 25x faster than AVAX and 3x faster than Solana or BNB. La Rose believes that the $20 million commitment from ENV has the goal of quickly establishing EOS EVM as the market-leader.

With $20 million of funding available, La Rose expects a massive influx of developers who want to take advantage of the funding opportunities. La Rose hopes that the funding commitment will attract the industry’s best developers and teams to build on EOS EVM. He noted that while having the best tech is cool, in this industry, people chase more than just tech.

The EOS Network is attractive because of its technology and community. It allows developers to build projects that other blockchains cannot support. The network is straightforward and has multiple tools and educational resources to help users acclimate to the blockchain.

The announcement is a significant boost for the EOS Network Foundation, and the investment should help to strengthen the EOS EVM’s position in the market. The $20 million commitment is a clear indication of EOS’s commitment to attracting the best developers and teams to build on the EOS EVM.

The announcement also highlights the growing interest in GameFi, which combines blockchain technology with gaming. GameFi has become increasingly popular in recent months, and many blockchain platforms have launched their GameFi ecosystems. EOS’s $20 million investment in GameFi projects should help to attract developers and teams to build on the EOS EVM and drive innovation in this exciting new space.

In conclusion, La Rose’s announcement is an exciting development for the EOS Network Foundation and the wider blockchain community. The $20 million investment in EOS EVM and GameFi projects should help to attract the best developers and teams to build on the EOS Network, drive innovation, and establish EOS EVM as the market-leader.

#EOS #GameFi #EOSEVM #azcoinnews #crypto2023

This article was republished from azcoinnews.com