Consensus 2019, held in New York, is one of the most awaited events of the crypto industry. Many exciting announcements have been made since the inauguration on 13th May, and the event will be concluded on Thursday, the 16th.
The announcement coming out of the NEO Blockchain states that it has secured a $100 million NEO EcoBoost funding for the NEO ecosystem. The funding will help the platform to develop its infrastructure, and even enhance its support to DApps.
Da: We are exhilarated to unveil #NEOEcoBoost $100M funding into NEO's ecosystem! The goal is to activate seed proj, support dApps growth, further dvlp infrastructure & bolster institutional collab. NEOEcoBoost extends beyond funding to tech support, community synergy & promotion pic.twitter.com/G9P8xnpwVo
— Neo Smart Economy (@NEO_Blockchain) May 14, 2019
NEO is a smart economy open network, focused on digitalizing assets using blockchain technology. The Shanghai-based blockchain platform is one of the several DLT projects to emerge from the blockchain boom in East Asia in the last few years.
The newly unveiled funding will help the platform to focus on activating seed projects, improving support for DApps, and institutional collaboration. The EcoBoost fund will also be available for projects at different phases of their life cycle, right from inception, until maturity. The program will facilitate technical training, collaborations, community enhancement, joint marketing efforts, and much more.
Emphasising on the importance of ecosystem development, NEO co-founder Da Hongfei said,
Without an ecosystem – blockchain – you can say it’s useless. It’s just a bunch of technology.
Development of ecosystems is extremely important for sustainable growth of any blockchain project. Advance infrastructure, sophisticated technical support and improved facilities encourage developers to develop more and more DApps for the platform, which will ultimately increase the daily trading volumes of the blockchain. Increased trading volumes generally translate to better revenue, which provides strength to the native tokens. To know what NEO holds for crypto enthusiasts, do visit our NEO price prediction post.