FTX, a derivatives exchange platform, has launched its ambitious Future Fund program to improve humanity’s long-term prospects. It intends to distribute at least $100 million this year alone.
The platform has a long list of project ideas that it wants to fund, but it is open to a broad range of ideas. FTX is accepting applications for the funding round which is open to non-profits and for-profits organizations. The organizations have to be interested to launch one of the proposed projects or have a similar idea for a project in FTX’s areas of interest. It should be aligned with the platform’s mission.
FTX highlighted its areas of interest as the safe development of artificial intelligence, reducing catastrophic biorisk, improving institutions and economic growth, as well as effective altruism, great power relations, and more.
FTX wants to start with highly decentralized approaches that can be tested quickly and produce a lot of output with limited time investment. It wants the strategies to give others opportunities to over blindspots. The platform highlighted that if the projects work well, they will be scaled. But if big projects fail, FTX will draw lessons and strong conviction to try something entirely different.
According to the Future Fund portal, this initiative is part of the FTX Foundation – a philanthropic foundation that is funded primarily by Sam Bankman-Fried. It is also funded by contributions from Caroline Ellison, Gary Wang, and Nishad Singh.