The Avalanche (AVAX) Foundation has announced its new plan to bring more developers to the Avalanche blockchain.
The organization has announced a new $220 million investment fund with contributions from Avalanche Foundation, as well as Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings and Republic Capital.
The Avalanche Foundation hopes its new investment program, Blizzard, will attract developers focused on DeFi, enterprise applications and NFTs. With this program, investments can be made in promising projects.
The funding news comes shortly after Avalanche launched its $180 million incentive program, a fund targeting DeFi developers.