HBAR Foundation to take on consumer brands in $250M Metaverse Fund

The HBAR Foundation has launched a $250M fund in an effort onboard popular consumer brands in Hedera Hashgraph's (HBAR-USD) metaverse, according a blog post Thursday. Capital from the fund will be directed towards gaming, sports, fashion and entertainment. The so-called THF Metaverse Fund "was launched to bring consumers into the Hedera ecosystem at scale and accelerate the development of applications in high-growth target areas," said Alex Russman, the fund's director. HBAR is also attempting to support game developers interested in building within the metaverse ecosystem and to introduce non-fungible tokens into the developer’s projects, according to the blog. The launch came after the company in March introduced a $155M Crypto Economy Fund, Blockworks reported. Meanwhile, hedera tokens (HBAR-USD +1.7%) are slightly rising to $0.22 intraday, while bitcoin (BTC-USD -0.8%) edges lower to $43.5K. Previously, (March 10) HBAR Foundation launched a $100M sustainable impact fund.