Pi Foundation unveils $100 million investment initiative to drive real-world utility
The Pi Foundation has launched Pi Network Ventures, a $100 million fund to support startups integrating the Pi token into practical, real-world use cases.
The initiative, announced on May 14, aims to boost adoption and drive long-term growth within the Pi ecosystem by targeting businesses beyond the traditional Web3 space.
The Foundation stated that the venture would make “the majority of its investments directly in the form of Pi.” These tokens will come from the 10% reserve set aside for ecosystem development.
Speaking on this, Pi co-founder Nicolas Kokkalis said the fund aligns with the network’s broader goal of connecting decentralized technology with everyday life. He emphasized that the initiative would benefit both startups and the broader Pi community by encouraging new use cases at scale.
The fund’s launch comes as the Pi Network has faced scrutiny over fraud and concerns about its lack of utility. However, industry analysts see the venture fund as a step toward legitimizing the ecosystem and increasing the token’s relevance in traditional markets.
Pi Network Ventures
According to the statement, Pi Network Ventures plans to back companies in various industries, including artificial intelligence, gaming, fintech, e-commerce, digital payments, marketplaces, and social platforms.
Pi Network Ventures will use a venture capital model mirroring Silicon Valley. This means it would conduct rigorous sourcing and selection processes to identify high-potential startups at various stages of growth, from early-stage companies to Series B and beyond.
However, it stated:
“The Pi Foundation is not obligated to invest the entire $100M, based on the quality of applicants and number of startups accepted into the initiative. Pi Network Ventures may make investments over time and from time to time, and may discontinue investing at any point in time. “
Meanwhile, the Pi Foundation pointed out that the fund would offer financial support and expand the Pi token’s utility by enabling startups to incorporate the digital asset into their operations.
In return, the supported companies will access Pi Network’s user base, which includes millions of identity-verified individuals in over 200 countries.
The post Pi Foundation unveils $100 million investment initiative to drive real-world utility appeared first on CryptoSlate.
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Pi Foundation unveils $100 million investment initiative to drive real-world utility
The Pi Foundation has launched Pi Network Ventures, a $100 million fund to support startups integrating the Pi token into practical, real-world use cases.
The initiative, announced on May 14, aims to boost adoption and drive long-term growth within the Pi ecosystem by targeting businesses beyond the traditional Web3 space.
The Foundation stated that the venture would make “the majority of its investments directly in the form of Pi.” These tokens will come from the 10% reserve set aside for ecosystem development.
Speaking on this, Pi co-founder Nicolas Kokkalis said the fund aligns with the network’s broader goal of connecting decentralized technology with everyday life. He emphasized that the initiative would benefit both startups and the broader Pi community by encouraging new use cases at scale.
The fund’s launch comes as the Pi Network has faced scrutiny over fraud and concerns about its lack of utility. However, industry analysts see the venture fund as a step toward legitimizing the ecosystem and increasing the token’s relevance in traditional markets.
Pi Network Ventures
According to the statement, Pi Network Ventures plans to back companies in various industries, including artificial intelligence, gaming, fintech, e-commerce, digital payments, marketplaces, and social platforms.
Pi Network Ventures will use a venture capital model mirroring Silicon Valley. This means it would conduct rigorous sourcing and selection processes to identify high-potential startups at various stages of growth, from early-stage companies to Series B and beyond.
However, it stated:
“The Pi Foundation is not obligated to invest the entire $100M, based on the quality of applicants and number of startups accepted into the initiative. Pi Network Ventures may make investments over time and from time to time, and may discontinue investing at any point in time. “
Meanwhile, the Pi Foundation pointed out that the fund would offer financial support and expand the Pi token’s utility by enabling startups to incorporate the digital asset into their operations.
In return, the supported companies will access Pi Network’s user base, which includes millions of identity-verified individuals in over 200 countries.
The post Pi Foundation unveils $100 million investment initiative to drive real-world utility appeared first on CryptoSlate.
Read More