{"id":3590,"date":"2021-05-19T05:44:38","date_gmt":"2021-05-19T04:44:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3590"},"modified":"2021-05-19T05:44:44","modified_gmt":"2021-05-19T04:44:44","slug":"nervos-collaborates-with-cmb-international-launch-50m-blockchain-defi-and-nft-fund","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/nervos-collaborates-with-cmb-international-launch-50m-blockchain-defi-and-nft-fund\/","title":{"rendered":"Nervos Collaborates with CMB International, launch $50M blockchain, DeFi and NFT fund"},"content":{"rendered":"\n
China\u2019s leading blockchain network to fund startups willing to develop on it. The Nervos<\/a> Foundation has declared the launch of a fund in partner with CMB International, an entirely claimed auxiliary of China Merchants Bank.<\/h5>\n\n\n\n
\"Nervos<\/figure>\n\n\n\n

The $50 million fund named “InNervation” will be utilized to make early investment in new businesses that are building blockchain-based user-centric products. Decentralized finance (DeFi) conventions, dApps, and nonfungible token (NFT) commercial centers will be a specific focal point of investments.<\/p>\n\n\n\n

Nervos\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is a Chinese blockchain project based on a Layer 1, Proof of Work, public permissionless blockchain protocol. It claims to allow any crypto asset to be stored with the same security and immutability as Bitcoin but also enables smart contracts and layer-two scaling.<\/p>\n\n\n\n

Nervos launched its Common Knowledge Base (CKB) blockchain network in 2019 with a focus on scalability. The project sought to target DeFi and\u00a0launched a $5 million fund of its own in February.<\/p>\n\n\n\n

According to the new\u00a0announcement, the $50M fund will be deployed over a three-year period, with startups receiving initial investments between $200,000 and $2 million to support project growth on the Nervos blockchain ecosystem. Priority will be given to projects that are either building on Nervos or have plans to migrate or integrate it into their products.<\/p>\n\n\n\n

Hong Kong incorporated CMBI has been exploring the use of dApps with Nervos since 2019 and was an early investor in the blockchain network. The bank is an integrated financial institution providing comprehensive and professional services, owned in entirety by China Merchants Bank (CMB), one of the country\u2019s top commercial banks<\/p>\n\n\n\n

Chief Investment Officer at CMBI, Samuel Wang, stated: \u201cThey've made no compromises in building their infrastructure and we are committed to supporting Nervos and the expansion of its dApp ecosystem.\u201d Nervos co-founder Kevin Wang stated:<\/p>\n\n\n\n

\u201cOur team has been working dilig<\/em>ently to ensure developers and teams have access to a variety of tools so they can create, customize, and connect their dApps, protocols, and more across multiple chains,\u201d<\/p><\/blockquote>\n\n\n\n

Startups that receive funding will have access to a suite of Nervos layer-two tools that have previously been in development and are now ready for use. These include a decentralized exchange, an Ethereum Virtual Machine (EVM) compatible layer called Polyjuice, and a permissionless rollup framework called Godwoken.<\/p>\n\n\n\n

There is also a\u00a0cross-chain bridge called Force Bridge\u00a0which is expected to enable support for Bitcoin, Tron, EOS, and Polkadot by the end of this quarter.<\/p>\n\n\n\n

The Nervos Common Knowledge Base (CKB) saw\u00a0huge gains earlier this year\u00a0as L2 and DeFi development progressed.<\/p>\n","protected":false},"excerpt":{"rendered":"

China\u2019s leading blockchain network to fund startups willing to develop on it. The Nervos Foundation has declared the launch of a fund in partner with CMB International, an entirely claimed auxiliary of China Merchants Bank. The $50 million fund named “InNervation” will be utilized to make early investment in new businesses that are building blockchain-based […]<\/p>\n","protected":false},"author":63,"featured_media":3591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[318],"class_list":["post-3590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-nervos"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/grayscale-new-products.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3590"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3591"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}