Alameda Research Invests Into Kakao Corp’s Metaverse Blockchain Klaytn Foundation

Klaytn Foundation, the metaverse blockchain ecosystem backed by South Korea-based internet giant Kakao Corp. on Thursday announced that it has onboarded Alameda Research as a strategic partner, investor and member of the Governance Council.

Financial details of the transaction are not disclosed.

Quantitative crypto trading firm and venture investor Alameda Research, founded in October 2017, is the brainchild of Sam Bankman-Fried, the co-founder of crypto derivatives exchange FTX.

Klaytn Foundation is a non-profit organization that manages the $500m Klaytn Growth Fund and operates alongside Krust, the holding company for all overseas ventures of Kakao Corp.

With the investment, Alameda Research would support the growth and development of the Klaytn ecosystem including further investments into early-stage projects built on Klaytn, as well as connections to its global network of top-level funds and exchanges.

Klaytn Foundation also expects the addition of Alameda Research as a strategic investor, to bring influential partners and critical resources that can propel projects to the next level and push it closer towards the vision of becoming the leading metaverse blockchain for all.

Source: Read Full Article