Variant is a cryptocurrency fund that is now committing around $450 million to be invested in those who build the user-own web. They are providing around $150 million to a seed fund. Another $300 million is an opportunity fund that will help be used on projects that demonstrate traction, from within their portfolio, as well as beyond.
Variant has also increased the headcount of their employee to around fifteen people. All of them have expertise when it comes to DeFi. They also understand token design, infrastructure, community building, consumers, and more.
Variant Backing Projects That Are DeFi and Web3 Based
Variant revealed through a press release that their focus will be on financial empowerment and that this will be through DeFi. They will also focus on expanding blockchain computing, as well as on the user experiences of the consumers of Web3.
The FinTech landscape of Iceland can be divided into two different groups. One of these groups involves developers focused on blockchain. They are also interested in blurring the boundaries that exist between the Web3 commerce, gaming, and Fintech. There are also other smaller groups, that are pioneering startups that are anti-money laundering. They are using artificial intelligence in order to stop financial crime.
Within just the last two years, there were three marketplaces for non-fungible tokens, were launched. Due to this, Iceland is becoming a hub that’s important, for commercial activity based on the Web3. This relief on the mechanisms of a decentralized exchange, which is primarily designed for marketplaces as well as digital assets.