Summary
- Pi Network has launched a $100 million venture fund aiming to expand network growth and real-world use.
- The fund plans to invest in Series B companies across various sectors like AI and fintech using PI tokens.
- The foundation stated that they plan to secure practical use cases for PI based on users who have completed KYC.
According to BeInCrypto, a cryptocurrency-focused media outlet, on the 14th (local time), Pi Network (PI) has launched a $100 million fund called 'Pi Network Ventures' to expand real-world use and network growth.
Pi Network has allocated 10% of the foundation's reserve from the PI supply and dollars to create the fund, planning to invest in Series B stage companies with real-life applications in blockchain, as well as AI, fintech, and e-commerce.
Furthermore, the fund's investments will be made using PI tokens instead of dollars.
The Pi Network Foundation explained, "We plan to secure practical use cases for PI based on users who have completed Know Your Customer (KYC) verification."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
